Like 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...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Nebraska companies an estimated $678,000 in 2011. Nebraska companies imported an estimated $18.7 ...
Continue readingLast week, we asked companies to contact their Senators in support of the GSP/TAA bill. When all the votes were tallied, H.R. 2832 passed with the support of 70 Senators. The inclusion of TAA made the vote particularly difficult for Republicans, but at the end of the day 17 Republicans voted in favor of the...
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