In the first seven months of 2016, GSP saved American companies about $410 million in eliminated tariffs. New Hampshire joined the list of states for which GSP eliminated at least $1 million in tariffs on imports, bringing the total to 37 states (plus Puerto Rico), and Hawaii is knocking on the door with an estimated...
Continue readingLast week, we profiled two companies (Summit Specialty International in Georgia and Sophia Foods in New York) that have bounced bounced strongly since Congress renewed GSP. Despite difficulties faced during the GSP lapse, both have more workers – and provide expanded benefits for those workers – than when GSP expired in 2013. (If you ha...
Continue readingIn May, the GSP program saved American companies $62 million on about $1.6 billion in imports. The GSP program saved U.S. companies $292 million in the first five months of 2016. Overall, the value of GSP imports and tariff savings both increased by more than 10 percent compared to May 2015. Some states, such as...
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