It’s been three full months since Congress let GSP expire. In that time, American companies likely have paid over $200 million in extra tariffs – it was at least $70 million in January alone. Last week we highlighted how GSP expiration reduces American jobs, makes pay/benefits at existing jobs worse, makes China more competitive, and...
Continue readingAmerican companies paid at least $70 million in tariffs in January 2021 due to GSP expiration. The map below shows estimated tariffs for products claiming GSP paid by state. The products facing the most new tariffs vary greatly by state: In Florida, roses faced more than $1.8 million in new tariffs due to GSP expiration...
Continue readingIn the last month before GSP expired on December 31, it saved American companies $79 million on about $1.8 billion in imports. GSP imports were up by 17 percent – and tariffs savings were up by 29 percent – compared to December 2016. Total 2017 savings from GSP increased at least $136 million over 2016....
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