This report, launched by the Netherlands Ministry of Foreign Affairs, provides a technical analysis of the costs that would be incurred by African, Caribbean and Pacific (ACP) states if their exports to the EU were subject to the tariffs applicable under the Generalised System of Preferences (GSP) rather than those that apply at the present time. It concludes that application of the Standard GSP regime does not fulfil the commitment made by the EU in the Cotonou Agreement but would result in the EU taxing ACP exports, generating revenue that compares unfavourably with aspects of Union-level aid, and is likely to result in the complete cessation of some ACP exports to the EU with significant adverse economic effects.