Written on May 4, 2022 in
USA
Based on an analysis of new U.S. Census Bureau data, American companies paid at $113 million in tariffs on product claiming GSP in March due to GSP expiration – the highest level ever despite the fact that March is generally not a big import month. The $300 million in tariffs paid in Q1 2022 due...
Continue reading
Written on May 4, 2022 in
USA
On May 3, a broad range of American companies and associations sent a letter to Congressional leaders outlining priorities for GSP renewal as part of conference negotiations on a compromise measure to align the U.S. Innovation and Competition Act and the America COMPETES Act (also know as the Bipartisan Innovation Act). Letter signers ranged from.....
Continue reading
Written on April 6, 2022 in
USA
Based on an analysis of new U.S. Census Bureau data, expiration of the Generalized System of Preferences (GSP) program has cost American companies at least $1.24 billion, including another $90 million in February 2022. Those figures are the absolute minimum: companies have paid well over $200 million in tariffs on potentially GSP-eligible tariffs t...
Continue reading