According to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $89 million in May 2021. Congressional authorization for GSP expired on December 31, 2020. In the first five months of expiration, American companies paid at least $397 million in extra taxes as...
Continue readingYesterday we published new data showing state-by-state GSP tariff savings for the first half of 2020, and how savings changed from the first half of 2019. As noted, there have been widespread declines, but NOT resulting from the Covid-19 pandemic, as many might assume. Instead, declines stem primarily from GSP country suspensions, which cost Americ...
Continue readingGSP saved American companies $72 million in June, about $17 million less (-19%) from July 2018. It marked the second month in a row that year-over-year savings due to terminated GSP for India and Turkey. In the first seven months of 2019, GSP saved American companies $628 million. Lost GSP for India cost American companies...
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