Based on an analysis of new U.S. Census Bureau data released last week, American companies paid at least $1.05 billion in extra tariffs on $18.7 billion in imports due to GSP expiration last year. Here are some of the highlights (or really, lowlights): Top 5 states by tariffs paid due to expiration: California ($287 million),...
Continue readingBased on an analysis of new U.S. Census Bureau data released yesterday, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $110 million in October 2021. Had congressional authorization for GSP not expired on December 31, 2020, it would’ve been the highest month of tariffs eliminated in the histo...
Continue readingBased on an analysis of new U.S. Census Bureau data released today, expiration of the Generalized System of Preferences (GSP) program cost American companies $100+ million in August 2021. Congressional authorization for GSP expired on December 31, 2020. Citing these growing costs along side Covid-related and supply chain challenges, over 300 U.S. c...
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