While we generally focus on the benefits to U.S. companies of the GSP program, it is important to remember that sourcing from GSP countries has a positive impact on the lives of workers and their families in developing countries. Sometimes, the benefits to poor workers come simply from having a job that otherwise would not...
Continue readingIn 2015, the Generalized System of Preferences (GSP) program saved American companies more than $660 million on $17.4 billion in imports. The infographic below highlights some other key facts and figures about the GSP program for 2015.
Continue readingBased on newly available July 2015 trade data, American companies paid about $1.3 billion in higher import taxes while GSP was expired between August 2013 to July 2015. With the retroactive GSP renewal, nearly all of that will be refunded automatically. The map below shows the breakdown of GSP tariffs paid during expiration that are...
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