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 California companies an estimated $105.5 million in 2011. California companies imported an estima...
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...
Continue readingWe’ve already highlighted the ways that the Generalized System of Preferences (GSP) works for American jobs, families, and manufacturing, but we can’t forget about the original intent of the program: promoting growth in developing countries. Today, the GSP program provides duty-free access for about 3,400 products from 130 developing co...
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