In the first eight months of 2016, GSP saved American companies about $472 million in eliminated tariffs. Hawaii joined the list of states for which GSP eliminated at least $1 million in tariffs on imports, bringing the total to 38 states (plus Puerto Rico).
The map below shows the overall GSP imports and savings by state from January to August.
Companies in California continued to lead the way with $76 million in tax savings. Imports into New Jersey, Texas, and New York all faced $35-$40 million less in taxes because of GSP, while imports into Florida, Illinois, and Georgia all faced $25-$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, June, July, and August.
And if you’re one of the companies benefiting from GSP renewal, be sure to answer our renewal impact survey here. You can see examples from companies that already answered the survey here, here, here, and here.