President Obama issued a proclamation suspending benefits to Argentina under the Generalized System of Preferences (“GSP”) program and designating South Sudan as a GSP least developed beneficiary country on March 26, 2012. The GSP program promotes economic growth in the developing world by providing preferential duty-free treatment for thousands of products from beneficiary countries. Least developed countries are granted duty-free treatment for additional products. The suspension of Argentina’s GSP designation was based on its failure to pay two longstanding arbitral awards in favor of U.S. companies and demonstrates that U.S. companies may seek recourse under the GSP program against countries that fail to pay arbitration awards.