We recently posted that GSP savings shattered previous records in October and that growth was strongest for products where the Trump administration has imposed new 10-25% tariffs on imports from China. One very clear example: Christmas lights, whose imports from China became subject to a 10% tariff on September 24. For September/October, GSP import...
Continue readingGSP saved American companies a record $105 million in October 2018. The savings exceeded the previous 10-year high – set just two months earlier – by $12 million (13%). GSP savings are on track to exceed $1 billion in 2018, likely for the first time in GSP’s 40-plus year history. As recently as 2015, GSP...
Continue readingGSP saved American companies $894 million in 2017, an increase of nearly $30 million from past estimates. The new estimates are based on revisions and updates from the U.S. Census Bureau published in June and August, and details on some of the increases are below. Even before upward revisions, U.S. companies’ tax benefits from GSP...
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