In August, the GSP program saved American companies $75 million on about $1.8 billion in imports. Those figures are notable for several reasons: That is the highest reported monthly savings since October 2008. GSP imports were up by 17 percent – and tariffs savings were up by 21 percent – compared to August 2016. Year-to-date...
Continue readingIn July 2017, the GSP program saved American companies $73 million on about $1.8 billion in imports. GSP imports were up by 18 percent – and tariffs savings were up by 23 percent – compared to July 2016. (NOTE: that likely understates savings, as U.S. government data show no claimed GSP benefits for imports of...
Continue readingSummit Specialty is a small business in Alpharetta, Georgia that supplies interior pine doors for the U.S. residential housing market. GSP eliminates the 4.8 percent import tax on the 1 3/8″ doors that Summit sources from Brazil and helps reduce costs for new single-family homes built throughout the United States. New tariffs from GSP expirat...
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