In the first half of 2016, GSP saved American companies about $353 million in eliminated tariffs. So far, GSP eliminated at least $1 million in tariffs on imports into 36 states (plus Puerto Rico). The map below shows the overall GSP imports and savings by state from January to June. Companies in California continued to...
Continue readingIn June, the GSP program saved American companies $61 million on about $1.5 billion in imports. GSP saved U.S. companies $353 million in the first half of 2016, more than any year since 2012. Overall, the value of GSP imports increased by 9 percent and the value of GSP tariff savings increased by 14 percent...
Continue readingFriday marked the one-year anniversary of the GSP program going back into effect. What has been the impact since then? On the data side, we know the renewal alone led to about $1.3 billion in refunds. We also know that GSP waived about $580 million in additional import taxes from August 2015 to May 2016...
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