Generalized System of Preferences Improvement Act - Amends the Trade Act of 1974 to revise the prohibition against the President's designation of a beneficiary developing country for purposes of duty-free treatment of its products under the generalized system of preferences.
Prohibits the President from designating a country a beneficiary developing country if it: (1) enters into an agreement to afford preferential treatment to the products of a developed country other than the United States, unless the President certifies to Congress that it is in the U.S. national interests to make such designation; and (2) improperly uses sanitary and phytosanitary measures, technical barriers to trade, or other non-tariff trade barriers in a manner to negatively affect trade between the country and the United States.
Adds as one of the factors the President must take into account in determining whether to designate a country as a beneficiary developing country the extent, if any, to which such country adopts and follows international sanitary or phytosanitary standards and provides scientific justifications for deviations from such standards.
Requires the President to report annually to Congress on the status of market access within each covered beneficiary developing country, including findings with respect to whether or not it has adopted and followed international sanitary and phytosanitary standards and provides scientific justifications for any deviations from such standards.