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 $65 million in February 2021. Congressional authorization for GSP expired on December 31, 2020. In the first two months of expiration, American companies paid at least $135 million in extra taxes a...
Continue readingGSP saved American companies nearly $900 million in 2020. GSP benefited companies in every state – and the map below shows the overall value of 2020 GSP imports (in blue) and tax savings (in red) by state. California accounts for more than a quarter of GSP savings, more than the next 3 states – New...
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