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GSP and Virginia: Fast Facts

Written on January 24, 2013 in GSP

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 Virginia companies an estimated $11.1 million in 2011. Virginia companies imported an estimated $...

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