The 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 Kentucky companies an estimated $20.1 million in 2011. Kentucky companies imported an estimated $...
Continue readingAs the debate over GSP moves to the Senate, our focus has been on the state-level impacts of GSP expiration (as you may have noticed here and here). Below is our latest fact sheet showing how GSP expiration impacts different individual states. At some point there will be a “call to action,” but in the...
Continue readingIn light of today’s Senate Finance Committee hearing, we decided to roll out some of our new GSP import data by state. For example, did you know that…. Five of the top six states in terms of tariffs paid through April because of GSP expiration are represented on the Finance Committee? Maryland, represented on the...
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