While all focus right now is on the need for Congress to renew GSP before December 31, the harm done by Administrative actions to American companies since GSP was last renewed in 2018 cannot be overstated. Since the last Congressional GSP reauthorization, American companies have paid up to $500 million in extra tariffs due to...
Continue readingYesterday we published new data showing state-by-state GSP tariff savings for the first half of 2020, and how savings changed from the first half of 2019. As noted, there have been widespread declines, but NOT resulting from the Covid-19 pandemic, as many might assume. Instead, declines stem primarily from GSP country suspensions, which cost Americ...
Continue readingGSP saved American companies $894 million in 2017, an increase of nearly $30 million from past estimates. The new estimates are based on revisions and updates from the U.S. Census Bureau published in June and August, and details on some of the increases are below. Even before upward revisions, U.S. companies’ tax benefits from GSP...
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