NEW SURVEY: COVID-19 impacts on GSP importers

Written on March 27, 2020 in USA

In recent weeks, Congressional offices and the Administration have asked the GSP Coalition how COVID-19 is impacting companies. Please take a moment to answer survey below so we can answer such questions. It should take less than a minute to answer the yes/no/not yet questions that will help us provide a sense scale to issues...

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GSP saved American companies $74 million in November

Written on January 13, 2020 in USA

GSP saved American companies $74 million in November. GSP saved American companies $962 million in the first 11 months of 2019 compared to $950 million in the same period in 2018. GSP savings in November 2019 declined by about $17 million (-19%) from November 2018. It marked the sixth month in a row that year-over-year...

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GSP saved American companies $91 million in October

Written on December 19, 2019 in USA

GSP saved American companies $91 million in October, about $15 million less (-15%) from October 2018. It marked the fifth month in a row that year-over-year savings declined. Before June 2019, year-over-year GSP savings rose in 37 straight months. Savings declines were due wholly to terminated GSP for India and Turkey. Lost GSP for India...

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GSP saved American companies $80 million in September

Written on November 20, 2019 in Brazil

GSP saved American companies $80 million in September, about $10 million less (-11%) from September 2018. It marked the fourth month in a row that year-over-year savings declined, due wholly to terminated GSP for India and Turkey. Despite lost GSP for those two key supplier countries, GSP saved American companies $797 million in the first...

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Lost GSP for India cost American companies $30 million in July

Written on September 20, 2019 in USA

Costs to American companies from the Administration’s decision to terminate India’s GSP eligibility continue to grow. In July alone, US importers paid an estimated $30.4 million in new tariffs (previously) duty-free imports from India. Lost GSP is hurting companies like Warehouse Associates, which canceled plans to create new US manufac...

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44 House Members Send Bipartisan Letter to USTR Expressing “Strong Desire” to Reinstate GSP for India as Part of Trade Deal

Written on September 17, 2019 in USA

A bipartisan group of 44 House members sent a letter to U.S. Trade Representative Robert Lighthizer today expressing their “strong desire to see GSP eligibility for India reinstated.” The United States terminated India’s eligibility under the Generalized System of Preferences (GSP) on June 5. The letter was led by Congressmen Jim ...

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GSP saved American companies $72 million in July

Written on September 12, 2019 in Cambodia

GSP saved American companies $72 million in June, about $17 million less (-19%) from July 2018. It marked the second month in a row that year-over-year savings due to terminated GSP for India and Turkey. In the first seven months of 2019, GSP saved American companies $628 million. Lost GSP for India cost American companies...

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Terminating GSP for India cost American companies $25 million in June

Written on August 8, 2019 in India

Yesterday we wrote that GSP savings plummeted to $66 million in June. GSP savings fell by the most since the 2008-2009 financial crisis. But while external forces caused the last big drop, this one stemmed from the Administration’s choice to make American companies tariffs on previously duty-free imports from India (and Turkey). The price tag...

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GSP savings plummet to $66 million in June

Written on August 7, 2019 in Arkansas

GSP saved American companies $66 million in June, about $39 million less than in May and $15 million less (-18%) from June 2018. The June declines reflect the first full month without GSP eligibility for imports from Turkey and first (mostly) full month without GSP for India. In the first six months of 2019, GSP...

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