Category: Nebraska

American companies paid another $97 million in tariffs due to GSP expiration in September 2021

Written on November 5, 2021 in Alabama

Based 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 $97 million in September 2021. Congressional authorization for GSP expired on December 31, 2020. Citing these growing costs along side Covid-related and supply chain challenges, o...

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GSP savings plummet to $66 million in June

Written on August 7, 2019 in Arkansas

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...

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2018 GSP savings of $1.03 billion smash previous highs (but major potential cuts on horizon for many American companies)

Written on March 12, 2019 in Alaska

GSP saved American companies a record $1.03 billion in 2018, smashing the previous high of $894 million set in 2017. Since Congress renewed GSP in 2015 following a multi-year lapse, annual GSP savings for American companies have increased by more than $350 million.   Despite overwhelming congressional support for GSP renewal in 2018, the Trump...

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