According to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $89 million in May 2021. Congressional authorization for GSP expired on December 31, 2020. In the first five months of expiration, American companies paid at least $397 million in extra taxes as...
Continue readingNo matter how many new incentives are added or how much direct help is given or new processes are created to ensure a fair outcome, there likely will be examples where GSP countries cannot or will not meet the eligibility criteria. Yet GSP termination is a blunt instrument. It can hurt the workers in developing...
Continue readingAs Congress considers GSP renewal legislation, there is no question that new eligibility criteria will be added. There are lots of questions about whether they new criteria will help raise standards or simply lead to more lost benefits/higher tariffs on Americans. As noted, American companies have paid about $800 million in extra tariffs due to...
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