According to new data released last week, American companies “claimed” GSP for about $1.45 billion worth of imported products in February. Typically, those products would not face import tariffs because of GSP, whereas those same products imported from a non-GSP country like China would face $48.2 million in import taxes. Since Congress...
Continue readingWhen February 14 rolls around every year, very few people think about expired trade programs. But perhaps they should. In particular, Members of Congress should take a moment to realize how allowing programs like GSP to remain expired can increase costs on what should be one of the sweetest days of the year. Don’t get...
Continue readingAs noted yesterday, GSP expiration cost American companies more than $56 million in September alone, and more than $110 million through the first two months. Not surprisingly, big states pay the most, but companies in all states are stuck paying higher taxes on previously duty-free goods. Here are the top 10 states ranked by the...
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