GSP expiration cost hit record $113 million in March

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...

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Nearly 270 organization urge long-term GSP reathorization with attainable criteria, updated review and CNL rules as part of Bipartisan Innovation Act

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.....

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GSP expiration costs hit $1.24 billion through February 2022

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...

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GSP expiration costs hit $1.15 billion through January 2022

Written on March 9, 2022 in USA

Based on an analysis of new U.S. Census Bureau data, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $1.15 billion, including another $99 million in January 2022. Those figures are the absolute minimum: companies have paid over $200 million in tariffs on potentially GSP-eligible tariffs that didn&r...

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January 2022 GSP expiration survey

Written on January 28, 2022 in USA

As the House and Senate try to move ahead on a China competition package, including GSP renewal, we expect a lot of questions on constituent impacts of expiration (or possible changes). Please take a moment to answer the survey below to ensure we can provide the best possible information to them. More details is better...

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Clark Griswold would hate GSP expiration

Written on December 23, 2021 in USA

So should any Member of Congress or Administration official that wants supply chains to move out of China. We’re not talking about crazy cousins or wet carpets or squirrels in trees. We’re talking about Christmas lights, one of the thousands of products impacted by continued expiration of the Generalized System of Preferences (GSP) trad...

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