GSP terminations for India and Turkey could take effect as soon as Saturday, May 4. Nothing happens automatically – a Presidential Proclamation setting an implementation date must be issued – after May 4 any such proclamation can take effect immediately. Kicking India and Turkey out would cost American companies over $300 million annual...
Continue readingGSP saved American companies $894 million in 2017, an increase of nearly $30 million from past estimates. The new estimates are based on revisions and updates from the U.S. Census Bureau published in June and August, and details on some of the increases are below. Even before upward revisions, U.S. companies’ tax benefits from GSP...
Continue readingGSP benefits kick back in in just a few days, but it will be a while until we know the full cost of tariffs paid by American companies due to expiration. According to the latest available data, American companies paid $67 million in extra taxes because Congress failed to renew GSP last year. In the...
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