GSP terminations for India and Turkey could take effect as soon as Saturday, May 4. Nothing happens automatically – a Presidential Proclamation setting an implementation date must be issued – after May 4 any such proclamation can take effect immediately. Kicking India and Turkey out would cost American companies over $300 million annual...
Continue readingNew trade data for January came out yesterday and the numbers aren’t pretty: American companies paid $77 million in extra taxes because Congress failed to renew GSP last year. By comparison, the most tariffs paid in a single month during the last 2-year expiration was “just” $61 million. So the stakes for a swift, retroactive...
Continue readingIn the last month before GSP expired on December 31, it saved American companies $79 million on about $1.8 billion in imports. GSP imports were up by 17 percent – and tariffs savings were up by 29 percent – compared to December 2016. Total 2017 savings from GSP increased at least $136 million over 2016....
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