GSP saved American companies a record $1.03 billion in 2018, smashing the previous high of $894 million set in 2017. Since Congress renewed GSP in 2015 following a multi-year lapse, annual GSP savings for American companies have increased by more than $350 million. Despite overwhelming congressional support for GSP renewal in 2018, the Trump...
Continue readingOn March 4, the Office of the U.S. Trade Representative announced its intent to terminate GSP for India and Turkey. According to the release: “India’s termination from GSP follows its failure to provide the United States with assurances that it will provide equitable and reasonable access to its markets in numerous sectors. Turkey&rsquo...
Continue readingWe recently posted that GSP savings shattered previous records in October and that growth was strongest for products where the Trump administration has imposed new 10-25% tariffs on imports from China. One very clear example: Christmas lights, whose imports from China became subject to a 10% tariff on September 24. For September/October, GSP import...
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