In 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 readingAs we noted last Friday, GSP expiration cost another $54 million in November. In total, expiration increased import taxes by more than $228 million from August to November, raising prices for companies in every state. Just how much varies greatly by state, as shown below. California companies paid an estimated $34 million in new import...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Idaho companies an estimated $103,000 in 2011. Idaho companies imported an estimated $4.4 million...
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