How Much Does GSP Save Your State?

A $330 million tax hike? American businesses need an extension.

Written on April 15, 2019 in USA

Tariffs are just another kind of tax. As many Americans scramble to finish up their taxes – and learn whether they’re due a refund (or something less pleasant) – there is another group of Americans for which May 4 may be a more important deadline: small businesses importing under GSP. These companies need an extension....

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Over 430 American Businesses and Associations Urge Congressional Leaders to Support Delay of GSP Withdrawal Citing Impact to their Businesses and Employees

Written on April 4, 2019 in USA

After Congress voted nearly unanimously to renew GSP last year, American small businesses ask Congress to examine whether kicking countries that provide a third of the duty-free benefits out of the program reflects Congressional intent American businesses: “By lowering tariffs for American companies that import under GSP, it supports jobs and...

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GSP saved American companies $97 million in January 2019

Written on April 2, 2019 in USA

GSP saved American companies $97 million in January. The savings increased by nearly $20 million from January 2018, and were about $11 million higher than average monthly savings in 2018 – already a record-shattering year. As recently as 2014/2015, GSP savings averaged just $56 million per month. But they have grown rapidly in recent years...

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