In 2019, GSP saved American companies $1.035 billion in eliminated tariffs, including $24 million on Covid-related products. The graphic below highlights the variety of products imported under GSP last year. In a major shift from 2018, consumer goods were the largest category of GSP imports by both value ($6.6 billion) and savings ($512 million). C...
Continue readingGSP eliminated over $24 million in tariffs in 2019 on products directly related to Covid-19 response. Congress should renew GSP immediately to ensure continued GSP duty-free treatment for these critical products and provide certainty for American companies that are already struggling due to the coronavirus pandemic. GSP’s current authorizatio...
Continue readingGSP saved American companies $80 million in September, about $10 million less (-11%) from September 2018. It marked the fourth month in a row that year-over-year savings declined, due wholly to terminated GSP for India and Turkey. Despite lost GSP for those two key supplier countries, GSP saved American companies $797 million in the first...
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