GSP Saved American Companies Nearly $750 Million in 2012
As noted on Monday, the US government recently released 2012 trade data showing that imports under GSP rose to $19.9 billion last year. Based on an analysis of that data, the GSP program saved American companies an estimated $748.7 million in 2012, a $40+ million increase over 2011. By county, the highest savings came on...
Continue readingSweet (GSP) Valentine’s Day Savings
Nothing says “I love you” on Valentine’s Day like candy. Perhaps that’s why, according to the National Confectioner’s Association: 36 million heart-shaped boxes of chocolate will be sold for Valentine’s Day and another 8 billion conversation hearts will will be produced. Luckily for those who want to be sweet by ...
Continue readingGSP Imports Reach $19.9 Billion in 2012
Last Friday, the U.S. government released the full-year trade data for 2012 showing that GSP imports reached $19.9 billion. This represents an increase of more than $1.3 billion, or about 7 percent, and is a significant jump considering the loss of GSP benefits for former top-10 suppliers Argentina (kicked out) and Colombia (GSP replace...
Continue reading2013 GSP Supporter List Goes Live
Check it out here. It includes 135 137 companies and associations (edit: 2 companies added their name right after we posted). We’ll continue adding names until Congress renews GSP, so check back for updates. If you’re not on the list but want to be, just fill out this form.
Continue readingGSP Renewal – How Long is Enough?
Whether talking to reporters or on the Hill for meetings, we often get the same question: “How long of a GSP extension would you like to see?” Our answer is always the same: “As long as possible.” Yet more important that what we want is why we want it. Put simply, history shows that long-term...
Continue readingGSP Expires in 185 Days
For many GSP importers, the retroactive renewal passed by Congress in October 2011 feels like just yesterday. Most companies didn’t start receiving refunds until early 2012. Yet here we are, one year later…and GSP expiration is creeping up once again. While the mid-year expiration isn’t the only challenge facing GSP r...
Continue readingGSP and Wyoming: Fast Facts
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 Wyoming companies an estimated $84,000 in 2011. Wyoming companies imported an estimated $2.6 mill...
Continue readingGSP and Wisconsin: Fast Facts
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 Wisconsin companies an estimated $4.9 million in 2011. Wisconsin companies imported an estimated ...
Continue readingGSP and West Virginia: Fast Facts
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 West Virginia companies an estimated $630,000 in 2011. West Virginia companies imported an estima...
Continue readingGSP and Washington: Fast Facts
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 Washington companies an estimated $8.1 million in 2011. Washington companies imported an estimate...
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