Keynes and Bown discuss the Generalized System of Preferences (GSP), the program rich countries use to offer lower tariffs to exporters in developing countries. They discuss a variety of programs—the now expired US GSP scheme, the African Growth and Opportunity Act (AGOA), as well as differences with the European Union’s GSP, GSP+ and Everything But Arms (EBA) policies. They speak with Emily Blanchard (Tuck School at Dartmouth College) and Kimberly Ann Elliott (Center for Global Development) about the design flaws of one-way trade preferences and research on their impact on developing countries.