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 lead the way with $56 million in tax savings, followed by companies in New Jersey with $31 million. Imports into Texas, New York, and Florida all faced $20-$30 million less in taxes because of GSP. This map will be updated monthly as new trade data become available and the most up-to-date version will be available at all times on our Graphics page.
These posts highlight some of the individual states, products, and countries with the biggest increases in January, February, March, April, May, and June.
And if you’re one of the companies benefiting from GSP renewal, be sure to answer our renewal impact survey here.