Based on data released this week, continued GSP expiration cost American importers another $58 million in August 2014. For a number of states – Georgia, Kansas, Michigan, Missouri, New Hampshire, Wisconsin, and Wyoming – August 2014 was the most costly month to date in terms of tariffs paid. (Depressing that we now must use the...
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 Kansas companies an estimated $2.4 million in 2011. Kansas companies imported an estimated $49.1 ...
Continue readingLast week, we asked companies to contact their Senators in support of the GSP/TAA bill. When all the votes were tallied, H.R. 2832 passed with the support of 70 Senators. The inclusion of TAA made the vote particularly difficult for Republicans, but at the end of the day 17 Republicans voted in favor of the...
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