An (unfortunate) #TradeValentines: Roses are red,And were added to GSP in November.But face high tariffs againSince Congress let GSP expire in December. One of the few bright spots for GSP in 2020 was the addition of roses to the list of GSP-eligible products as part of the 2020 annual product review. New duty-free treatment took...
Continue readingGSP saved American companies nearly $900 million in 2020. GSP benefited companies in every state – and the map below shows the overall value of 2020 GSP imports (in blue) and tax savings (in red) by state. California accounts for more than a quarter of GSP savings, more than the next 3 states – New...
Continue readingAccording to new research from the Coalition for GSP, the Generalized System of Preferences (GSP) program saved American companies $879 million in 2020. Total imports under GSP were nearly $17 billion. Overall GSP imports and savings were down from 2019 due to both country terminations and coronavirus impacts. GSP savings started growing again in l...
Continue reading