Based on new data released Friday, the continued expiration of the GSP program cost U.S. importers $62 million in October, bringing the total cost to more than $175 million in the first three months. Of course, it’s now December 9 so the actual taxes paid are much higher.
American companies paid the highest taxes on imports from India ($16.5 million) and Thailand ($11.0 million).
Taxes paid on imports from Indonesia increased by 43% from September to $7.7 million, while taxes paid on imports from Paraguay (primarily sugar products) increased from just $92,000 in September to $700,000 in October.
If you’re one of the companies paying higher taxes because GSP expired and are not yet on the free GSP Supporter List, be sure to add your name here.
