In March, the GSP program saved American companies nearly $62 million on about $1.6 billion in imports. The GSP program saved U.S. companies $170 million in the first three months of 2016. Overall, GSP tariff savings increased increased by 8 percent compared to March 2015. The value of imports under GSP increased 6 percent. Some...
Continue readingGSP renewal appears to be having a very positive impact on American companies – and their sourcing from GSP countries. Based on data released last week, American importers saved $57 million in November 2015 as a result of the program’s reinstatement in late July 2015. In total, GSP saved American companies $230 million between Augu...
Continue readingLike the jobs debate, many people assume that if exports are goods for US manufacturers, imports must be bad. When it comes to GSP, nothing could further from the truth. Raw materials, components, and parts have accounted for more than 70 percent of GSP imports since the program expired. Though industrial tariffs tend to be...
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