Based on an analysis of new U.S. Census Bureau data released today, expiration of the Generalized System of Preferences (GSP) program cost American companies $100+ million in August 2021. Congressional authorization for GSP expired on December 31, 2020. Citing these growing costs along side Covid-related and supply chain challenges, over 300 U.S. c...
Continue readingOn September 21, 308 American companies and associations sent a letter to Senate Finance and House Ways and Means Committee Chairmen Ron Wyden and Richard Neal and Ranking Members Mike Crapo and Kevin Brady urging retroactive renewal of the Generalized System of Preferences (GSP). Companies are headquartered in 40 states and about 175 different Con...
Continue readingAccording to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $85 million in July 2021. Congressional authorization for GSP expired on December 31, 2020. From January-July 2021, American companies paid at least $565 million in extra taxes as a result of GSP.....
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