Yesterday we wrote that GSP savings plummeted to $66 million in June. GSP savings fell by the most since the 2008-2009 financial crisis. But while external forces caused the last big drop, this one stemmed from the Administration’s choice to make American companies tariffs on previously duty-free imports from India (and Turkey). The price tag...
Continue readingGSP 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...
Continue readingGSP 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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