Last year we wrote about how roses were recently added to GSP – but expiration means more expensive roses for Valentine’s Day. Not surprisingly, imports of roses spike in January and February in preparation for the Valentine’s holiday. As Scott Lincicome tweeted: “Congress literally raised taxes on love. Happy valentine&rsqu...
Continue readingIn 2019, GSP saved American companies $1.035 billion in eliminated tariffs, including $24 million on Covid-related products. The graphic below highlights the variety of products imported under GSP last year. In a major shift from 2018, consumer goods were the largest category of GSP imports by both value ($6.6 billion) and savings ($512 million). C...
Continue readingHigh GSP savings levels continued in September: GSP saved American companies $72 million on about $1.7 billion in imports. GSP imports were up by 15 percent – and tariffs savings were up by 19 percent – compared to September 2016. Year-to-date savings from GSP are up $83 million, or about $9.3 million per month, over...
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