GSP saved American companies $72 million in June, about $17 million less (-19%) from July 2018. It marked the second month in a row that year-over-year savings due to terminated GSP for India and Turkey. In the first seven months of 2019, GSP saved American companies $628 million. Lost GSP for India cost American companies...
Continue readingCosts are rising for American companies that have depended for decades on GSP benefits for key supplier countries. American companies paid over $10 million in new tariffs through June to the Administration’s choice to terminate GSP for Turkey. That is on top of the $25 million in tariffs paid in June on previously GSP-eligible products...
Continue readingGSP saved American companies over $1.03 billion in 2018, smashing the previous high of $894 million set in 2017. GSP benefited companies in every state – and GSP savings exceeding $1 million for 41 states plus Puerto Rico. The map below shows the overall value of 2018 GSP imports (in blue) and tax savings (in...
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