March 2018 – Page 2 – Renew GSP Today

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

Written on March 12, 2018 in USA

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...

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GSP expiration cost American companies $77 million in January 2018

Written on March 8, 2018 in Alaska

New trade data for January came out yesterday and the numbers aren’t pretty: American companies paid $77 million in extra taxes because Congress failed to renew GSP last year. By comparison, the most tariffs paid in a single month during the last 2-year expiration was “just” $61 million. So the stakes for a swift, retroactive...

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