When imports enter the United States, they often face tariffs – taxes – collected by the U.S. government. Some of these tariffs are pretty high: 13.5% for inexpensive silver jewelry, 12.5% for flashlights, and 10.0% for coffee mugs. Everyday food products are often worse: 17.9% for nuts and seeds, 15.0% for Parmesan cheese, ...
Continue readingThe Generalized System of Preferences (GSP) is a U.S. trade program that eliminates the tariffs (i.e., taxes) paid by American companies when they import certain products from about 130 developing countries around the world. GSP was created in the 1970s as part of an international effort to promote development through “trade, not aid.&r...
Continue readingA number of organizations and individuals in the trade policy community have been working on a new initiative called Imports Work for America Week with the goal of providing a chance to talk about how imports, in addition to exports, create benefits for the U.S. economy. Imports Work for America Week will take place May...
Continue reading