Based on an analysis of new U.S. Census Bureau data released yesterday, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $110 million in October 2021. Had congressional authorization for GSP not expired on December 31, 2020, it would’ve been the highest month of tariffs eliminated in the histo...
Continue readingAmerican companies paid at least $70 million in tariffs in January 2021 due to GSP expiration. The map below shows estimated tariffs for products claiming GSP paid by state. The products facing the most new tariffs vary greatly by state: In Florida, roses faced more than $1.8 million in new tariffs due to GSP expiration...
Continue readingIn the last month before GSP expired on December 31, it saved American companies $79 million on about $1.8 billion in imports. GSP imports were up by 17 percent – and tariffs savings were up by 29 percent – compared to December 2016. Total 2017 savings from GSP increased at least $136 million over 2016....
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