GSP saved American companies $66 million in June, about $39 million less than in May and $15 million less (-18%) from June 2018. The June declines reflect the first full month without GSP eligibility for imports from Turkey and first (mostly) full month without GSP for India. In the first six months of 2019, GSP...
Continue readingEvidence continues to grow that the nearly year-long trade war is pushing companies to source more from GSP countries such as India, Thailand, Cambodia, Indonesia, and Turkey. The May 10 increase in tariffs on $200 billion in imports from China – and announcement that new tariffs on the remaining $300 billion in imports could come...
Continue readingGSP benefits kick back in in just a few days, but it will be a while until we know the full cost of tariffs paid by American companies due to expiration. According to the latest available data, American companies paid $67 million in extra taxes because Congress failed to renew GSP last year. In the...
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