In October, the GSP program saved American companies $64 million on about $1.6 billion in imports. The value of GSP imports increased by about 4 percent, while the tariff savings increased by nearly 9 percent compared to October 2015. Overall, GSP saved U.S. companies $600 million in the first 10 months of 2016. GSP savings...
Continue reading2017 is officially here! Unfortunately, that means American companies will face millions of dollars per day in new taxes in unless Congress passes – and the new President signs – legislation extending the GSP program in the next 364 days. GSP renewal faces special challenges as an “import-only” program. The experience in 201...
Continue readingIn the first nine months of 2016, GSP saved American companies about $531 million in eliminated tariffs. GSP waived at least $1 million in tariffs on imports into 38 states, plus Puerto Rico. The map below shows the overall GSP imports and savings by state from January to September. Companies in California continued to lead...
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