Based on an analysis of new U.S. Census Bureau data, American companies paid $107+ million in extra tariffs in July due to GSP expiration – and $1.8+ billion in new tariffs from January 2021 and July 2022. Tariff costs resulting from GSP expiration are up about 40% in 2022, from an average of $80 million/month...
Continue readingOn Friday, the National Taxpayers Union published data showing how Back To School Season Highlights High Cost of Import Taxes, including the great graphic below. Sadly, even those high tariffs are understated because they don’t account for the impacts of GSP expiration. NTU’s selected products faced at least $120 million in extra tariff...
Continue readingTariffs paid by American companies due to expiration of the GSP program keep going up up up. Based on an analysis of new U.S. Census Bureau data, American companies paid at least $113 million in tariffs on products claiming GSP in June due to GSP expiration – and $1.7 billion in new tariffs from January...
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