The Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Arizona companies an estimated $2.3 million in 2011. Arizona companies imported an estimated $53....
Continue readingNote: This is the first in a series of posts to be released in January highlighting GSP benefits for all 50 states and the District of Columbia. The Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program...
Continue readingOver the weekend, the Administration announced the results of the 2011 GSP Annual Review. You can read the Presidential Proclamation here or, if you’d prefer the non-legalese version, here’s a list from USTR that clearly states the decision for each product. Although it’s gotten little press, the statistics are quite strikin...
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