54 House Members call for GSP/CNL updates in the final China competition bill
As Congress officially kicks off the House-Senate Conference negotiations on a China competition bill, a bipartisan group of 54 House Members sent a letter to Congressional leaders urging inclusion of the CNL Update Act (HR 6171) provisions in the final bill. Representatives Stephanie Murphy (D-FL) and Jackie Walorski (R-IN), the lead sponsors of t...
Continue readingGSP expiration cost hit record $113 million in March
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 readingNearly 270 organization urge long-term GSP reathorization with attainable criteria, updated review and CNL rules as part of Bipartisan Innovation Act
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 readingGSP expiration costs hit $1.24 billion through February 2022
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 readingGSP expiration costs hit $1.15 billion through January 2022
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...
Continue readingGSP expiration increased taxes on American companies by at least $1.05 billion in 2021
Based on an analysis of new U.S. Census Bureau data released last week, American companies paid at least $1.05 billion in extra tariffs on $18.7 billion in imports due to GSP expiration last year. Here are some of the highlights (or really, lowlights): Top 5 states by tariffs paid due to expiration: California ($287 million),...
Continue readingGSP expiration adds millions in extra tariffs to Valentine’s Day roses – and it could get worse
Last year we wrote about how roses were recently added to GSP – but expiration means more expensive roses for Valentine’s Day. Not surprisingly, imports of roses spike in January and February in preparation for the Valentine’s holiday. As Scott Lincicome tweeted: “Congress literally raised taxes on love. Happy valentine&rsqu...
Continue readingJanuary 2022 GSP expiration survey
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...
Continue readingGSP Coalition concerns with the GSP renewal provisions in new House “America COMPETES Act”
Yesterday, Democrats in the House of Representatives introduced its China competitiveness package, the “America COMPETES Act” (H.R.4251). The text is available here. House Democrats hope to pass the bill as soon as next week so they can enter conference negotiations with the Senate, which passed its bipartisan version of a competitive p...
Continue readingGSP expiration cost American companies at least $98 million in November 2021
Based on an analysis of new U.S. Census Bureau data released yesterday, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $98 million in November 2021. From January-November 2021, American companies paid at least $971 million in extra taxes due to GSP expiration. Those figures are the absolute minimu...
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