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 readingWe frequently note that each day of GSP expiration costs American importers nearly $2 million in additional taxes. We also highlight the diverse GSP importers that are on the supporter list. But we don’t know how many other GSP importers might be paying those taxes on any given day. So we decided to conduct an...
Continue readingWhile American companies have come to rely on the Generalized System of Preferences (GSP) program to lower costs for key imports, the original intent was to promote economic growth in developing countries around the world. Instead of traditional means to stimulate growth, such as providing direct foreign aid, GSP created an incentive for U.S. compa...
Continue reading