According to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $89 million in May 2021. Congressional authorization for GSP expired on December 31, 2020. In the first five months of expiration, American companies paid at least $397 million in extra taxes as...
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....
Continue readingCongress has recessed until after Labor Day and Members will be spending the next month in their home states and districts. Here are some of the companies that have created more – and better – jobs since Congress last renewed GSP: WorldFinds in Westmont, Illinois: After paying $55,000 in extra taxes during expiration, GSP renewal...
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