Based on an analysis of new U.S. Census Bureau data released last week, American companies paid at least $1.05 billion in extra tariffs on $18.7 billion in imports due to GSP expiration last year. Here are some of the highlights (or really, lowlights): Top 5 states by tariffs paid due to expiration: California ($287 million),...
Continue readingAccording to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $88 million in March 2021. Congressional authorization for GSP expired on December 31, 2020. March was the most expensive month yet of GSP expiration: the $88 million in extra tariffs paid far...
Continue readingGSP benefits kick back in in just a few days, but it will be a while until we know the full cost of tariffs paid by American companies due to expiration. According to the latest available data, American companies paid $67 million in extra taxes because Congress failed to renew GSP last year. In the...
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