It’s been three full months since Congress let GSP expire. In that time, American companies likely have paid over $200 million in extra tariffs – it was at least $70 million in January alone. Last week we highlighted how GSP expiration reduces American jobs, makes pay/benefits at existing jobs worse, makes China more competitive, and...
Continue readingAmerican companies paid at least $70 million in tariffs in January 2021 due to GSP expiration. The map below shows estimated tariffs for products claiming GSP paid by state. The products facing the most new tariffs vary greatly by state: In Florida, roses faced more than $1.8 million in new tariffs due to GSP expiration...
Continue readingGSP saved American companies $80 million in September, about $10 million less (-11%) from September 2018. It marked the fourth month in a row that year-over-year savings declined, due wholly to terminated GSP for India and Turkey. Despite lost GSP for those two key supplier countries, GSP saved American companies $797 million in the first...
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