Category: Company Stories

Terminating GSP for India cost American companies $25 million in June

Written on August 8, 2019 in India

Yesterday we wrote that GSP savings plummeted to $66 million in June. GSP savings fell by the most since the 2008-2009 financial crisis. But while external forces caused the last big drop, this one stemmed from the Administration’s choice to make American companies tariffs on previously duty-free imports from India (and Turkey). The price tag...

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GSP savings plummet to $66 million in June

Written on August 7, 2019 in Arkansas

GSP saved American companies $66 million in June, about $39 million less than in May and $15 million less (-18%) from June 2018. The June declines reflect the first full month without GSP eligibility for imports from Turkey and first (mostly) full month without GSP for India. In the first six months of 2019, GSP...

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2018 GSP Savings by State

Written on July 25, 2019 in California

GSP saved American companies over $1.03 billion in 2018, smashing the previous high of $894 million set in 2017. GSP benefited companies in every state – and GSP savings exceeding $1 million for 41 states plus Puerto Rico. The map below shows the overall value of 2018 GSP imports (in blue) and tax savings (in...

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