This morning, the Coalition for GSP released its latest annual report on the history, administration, and usage of the GSP program. In addition to facts already noted here (e.g., GSP imports reached $19.9 billion and saved U.S. companies nearly $750 million in 2012), the report found:
- California had the highest value of GSP imports ($2.8 billion) and tariff savings ($111 million) in 2012
- Rhode Island imports would’ve face the highest average tariffs (7%) without GSP
- 94% of imports from GSP-eligible countries did not enter duty free under GSP
- GSP eliminated tariffs on individual products that were as high as 37.8%
- Motor vehicle parts were the top product group imported under GSP in 2012
- Per capita incomes for top GSP beneficiary countries remain well below the statutory “high-income” threshold for automatic graduation
You can download the full report, which includes much, much more info, by clicking here.