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GSP Saved American Companies $62 Million in May 2016

Written on July 27, 2016 in Arkansas

In May, the GSP program saved American companies $62 million on about $1.6 billion in imports. The GSP program saved U.S. companies $292 million in the first five months of 2016. Overall, the value of GSP imports and tariff savings both increased by more than 10 percent compared to May 2015. Some states, such as...

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GSP Renewal Saved American Companies $57 Million in November

Written on January 13, 2016 in Alabama

GSP renewal appears to be having a very positive impact on American companies – and their sourcing from GSP countries. Based on data released last week, American importers saved $57 million in November 2015 as a result of the program’s reinstatement in late July 2015. In total, GSP saved American companies $230 million between Augu...

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GSP and Arkansas: Fast Facts

Written on January 3, 2013 in Arkansas

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 Arkansas companies an estimated $1.9 million in 2011. Arkansas companies imported an estimated $4...

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