Written on April 8, 2021 in
Florida
According to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $65 million in February 2021. Congressional authorization for GSP expired on December 31, 2020. In the first two months of expiration, American companies paid at least $135 million in extra taxes a...
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Written on February 12, 2021 in
Arkansas
GSP saved American companies nearly $900 million in 2020. GSP benefited companies in every state – and the map below shows the overall value of 2020 GSP imports (in blue) and tax savings (in red) by state. California accounts for more than a quarter of GSP savings, more than the next 3 states – New...
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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...
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