GSP saved American companies $66 million in June, about $39 million less than in May and $15 million less (-18%) from June 2018. The June declines reflect the first full month without GSP eligibility for imports from Turkey and first (mostly) full month without GSP for India. In the first six months of 2019, GSP...
Continue readingNew trade data for January came out yesterday and the numbers aren’t pretty: American companies paid $77 million in extra taxes because Congress failed to renew GSP last year. By comparison, the most tariffs paid in a single month during the last 2-year expiration was “just” $61 million. So the stakes for a swift, retroactive...
Continue readingIn the last month before GSP expired on December 31, it saved American companies $79 million on about $1.8 billion in imports. GSP imports were up by 17 percent – and tariffs savings were up by 29 percent – compared to December 2016. Total 2017 savings from GSP increased at least $136 million over 2016....
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