Based on an analysis of new U.S. Census Bureau data released last week, American companies paid at least $1.05 billion in extra tariffs on $18.7 billion in imports due to GSP expiration last year. Here are some of the highlights (or really, lowlights): Top 5 states by tariffs paid due to expiration: California ($287 million),...
Continue readingAccording to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $88 million in March 2021. Congressional authorization for GSP expired on December 31, 2020. March was the most expensive month yet of GSP expiration: the $88 million in extra tariffs paid far...
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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