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 Alaska companies an estimated $99,000 in 2011. Alaska companies imported an estimated $2.6 millio...
Continue readingNote: This is the first in a series of posts to be released in January highlighting GSP benefits for all 50 states and the District of Columbia. 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...
Continue readingThanks for visiting our website about the GSP trade program. Congress passed a retroactive GSP renewal on June 26, 2015 that extends the program through December 31, 2017 and refunds approximately $1.3 billion in taxes paid during the previous expiration. Yet 2017 will be here soon, so we must continue to build support for the...
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