State breakdown of $77 million in taxes paid in January 2018 due to GSP expiration

GSP expiration cost American companies $77 million in extra taxes in January. The “potential” savings – assuming they are eventually refunded – are over $13 million (21%) higher than savings in January 2017. Put differently, GSP usage has taken off and the pain of expiration will be worse than years past.

The map below shows the overall value of January 2018 GSP imports (in blue) and tax costs due to expiration (in red) by state. These figures reflect imports that claimed GSP, as advised by CBP, but for which companies paid tariffs due to expiration.

Where do things stand now? The House passed GSP renewal legislation in February, but the Senate must pass legislation for GSP benefits to resume.

Please use our Contact Congress tool to write your Senators about GSP renewal; answer our brief survey on how GSP expiration impacts you, and/or sign up for the free GSP supporter list to show the broad support for renewal.