According to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $83 million in April 2021. Congressional authorization for GSP expired on December 31, 2020. In the first four months of expiration, American companies paid at least $308 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 readingIn February, the GSP program saved American companies more than $54 million on about $1.4 billion in imports. The GSP program saved U.S. companies $109 million in the first two months of 2016. Overall, GSP tariff savings increased increased by 31 percent compared to February 2015. The value of imports under GSP increased 30 percent....
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