In the first 10 months of 2017, GSP saved American companies $701 million in eliminated taxes. That is about $100 million more, or $10 million per month, than the same period in 2016. Savings for July-October also don’t reflect program changes that could add another $5-10 million per month once data are revised.
Year-to-date GSP savings through October exceeded $1 million for 39 states plus Puerto Rico. The map below shows the overall value of year-to-date 2017 GSP imports (in blue) and tax savings (in red) by state.
This map will be updated monthly as new trade data become available and the most up-to-date version will be available at all times on our Graphics page. These posts highlight select states, products, and countries contributing to increases in January, February, March, April, May, June, July, August, September, and October.