Archive for: March 2019

2018 GSP savings of $1.03 billion smash previous highs (but major potential cuts on horizon for many American companies)

Written on March 12, 2019 in Alaska

GSP saved American companies a record $1.03 billion in 2018, smashing the previous high of $894 million set in 2017. Since Congress renewed GSP in 2015 following a multi-year lapse, annual GSP savings for American companies have increased by more than $350 million.   Despite overwhelming congressional support for GSP renewal in 2018, the Trump...

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USTR Announces Intent to Remove India and Turkey from GSP

Written on March 5, 2019 in USA

On March 4, the Office of the U.S. Trade Representative announced its intent to terminate GSP for India and Turkey. According to the release: “India’s termination from GSP follows its failure to provide the United States with assurances that it will provide equitable and reasonable access to its markets in numerous sectors. Turkey&rsquo...

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