Based on an analysis of new U.S. Census Bureau data released today, expiration of the Generalized System of Preferences (GSP) program cost American companies $100+ million in August 2021. Congressional authorization for GSP expired on December 31, 2020. Citing these growing costs along side Covid-related and supply chain challenges, over 300 U.S. c...
Continue readingAccording to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $85 million in July 2021. Congressional authorization for GSP expired on December 31, 2020. From January-July 2021, American companies paid at least $565 million in extra taxes as a result of GSP.....
Continue readingIt’s been three full months since Congress let GSP expire. In that time, American companies likely have paid over $200 million in extra tariffs – it was at least $70 million in January alone. Last week we highlighted how GSP expiration reduces American jobs, makes pay/benefits at existing jobs worse, makes China more competitive, and...
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