The Coalition for GSP is launching a new survey of American imports on the costs to date, both in tariffs paid and actions taken, due to the current GSP expiration.
GSP has been expired for nearly 7 months. Based on $400 million in extra tariffs paid through May, by now (July 21) the tariff costs should be closer to $550 million. But Congress seems unlikely to renew GSP before its August recess and American companies may pay hundreds of millions of dollars more before the program is restored.
And tariff payments are just part of the story. We know the combination of higher taxes and the resulting lost sales force companies to take a number of harmful actions, including layoffs, hiring freezes, benefit cuts for workers, and delayed investments. We hope your survey responses below will help us illustrate some of those unseen costs.
As part of renewal, Congress is focused on adding a number of new eligibility criteria. The Coalition for GSP remains that no matter how well-intentioned those criteria may be, without other changes the result could be lose-lose tariff actions. We hope your survey responses can help illustrate more of the current positive impacts of your GSP in areas like labor, environment, and women’s economic empowerment that could be put at risk if GSP reviews lead to lost benefits.
As always, all company-specific information will be kept confidential unless your provide explicit permission to use it publicly. While we hope you will answer every question to provide robust survey responses, only your contact information and usage permissions are “required” for submission in case certain questions cannot be answered or are not applicable.
If you have any questions, please contact Dan Anthony at the Coalition for GSP here.