Egypt – Renew GSP Today https://renewgsptoday.com A resource from the Coalition for GSP Tue, 09 Jan 2018 18:32:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://renewgsptoday.com/wp-content/uploads/2017/04/cropped-CoalitionForGSP-Logo-ICO-32x32.png Egypt – Renew GSP Today https://renewgsptoday.com 32 32 GSP Saved American Companies $84 Million in November 2017 https://renewgsptoday.com/2018/01/09/gsp-saved-american-companies-84-million-in-november-2017/ Tue, 09 Jan 2018 18:31:38 +0000 http://renewgsp.wpengine.com/?p=8060 GSP expired on December 31, but new data available show GSP imports continued to climb toward the end of last year. In November, GSP saved American companies $84 million on about $2.0 billion in imports – once again exceeding any single month all the way back to October 2006.

GSP imports were up by 14 percent – and tariffs savings were up by 25 percent – compared to November 2016. Year-to-date savings from GSP are up $118 million, or nearly $11 million per month, over the first 11 months of 2016.

November was the first month that U.S. government data started reflecting imports under the recent travel goods expansion (though companies have been saving since July 1). GSP savings on travel goods jumped about $5 million from October to November and July-October savings likely will be revised up by similar amounts.

Some states such as Louisiana and New York saw much larger increases in GSP imports and savings compared to the previous year, as shown in the graphic below.

GSP saved Louisiana companies $1.0 million in November, up $529,000 (104 percent) compared to one year earlier. Ferrochromium from South Africa, zinc from India, and tropical plywood from Cambodia contributed the most to Louisiana’s GSP savings increases.

GSP saved New York companies $7.2 million in November, up $2.3 million (46 percent) compared to one year earlier. Chemicals from India and Brazil, jewelry from Indonesia, and eye-wear from Thailand contributed most to New York’s GSP increases.

In addition to Louisiana and New York, companies in 25 other states saw GSP savings increase by at least 20 percent, including: Alabama, California, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, Nevada, New Jersey, North Carolina, Ohio, Oklahoma, South Carolina, South Dakota, Wisconsin, and Wyoming.

Savings on GSP imports from Egypt increased by 30 percent compared to November of last year. Texas companies’ alone imported $836,000 in activated clays under GSP in November. GSP eliminated about $10 million (!) in import taxes on travel goods in November, the first month the data reflect the recent expansion. About one-third of those savings were on imports into New Jersey.

*** REMINDER: GSP EXPIRED EFFECTIVE JANUARY 1.***

Please see our expiration post on what to do now to expedite any potential refund process and help renew GSP swiftly.

 

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GSP Saved American Companies $66 Million in April 2017 https://renewgsptoday.com/2017/06/14/gsp-saved-american-companies-66-million-in-april-2017/ Wed, 14 Jun 2017 17:00:34 +0000 http://renewgsp.wpengine.com/?p=7934 In April 2017, the GSP program saved American companies $66 million on about $1.7 billion in imports. GSP imports were up by 8 percent – and tariffs savings were up by 11 percent – compared to April 2016.

Some states such as Kentucky and Virginia saw much larger increases in GSP imports and savings compared to the previous year, as shown in the graphic below.

GSP saved Kentucky companies $1.2 million in April, up over $307,000 (35 percent) compared to one year earlier. Yeasts from Brazil, electric motors from the Philippines, and wire harnesses from Indonesia contributed most to Kentucky’s GSP increases.

GSP saved Virginia companies $1.6 million in April, up over $555,000 (52 percent) compared to one year earlier. Plastics and auto parts from Brazil, travel goods from Cambodia, and from strawberries from Egypt contributed most to Virginia’s GSP increases.

In addition to Kentucky and Virginia, companies in 14 other states saw GSP savings increase by at least 20 percent, including: Alabama, Alaska, Arizona, Indiana, Louisiana, Maine, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, and Wisconsin.

Savings on GSP imports from Serbia increased by 25 percent compared to April of last year. Oklahoma companies’ purchases of auto parts accounted for nearly 20 percent of GSP imports from Serbia. GSP eliminated about $100,000 in import taxes on crab meat in April, with about a quarter of those savings on imports into Maryland.

More monthly GSP import and savings highlights are on our Graphics page.

REMINDER: GSP expires at the end of 2017. Click here to learn about ways to take action and support GSP renewal this year.

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GSP Saved American Companies $62 million in December 2016 https://renewgsptoday.com/2017/02/22/gsp-saved-american-companies-62-million-in-december-2016/ Wed, 22 Feb 2017 16:16:35 +0000 http://renewgsp.wpengine.com/?p=7820 In December 2016, the GSP program saved American companies $62 million on about $1.6 billion in imports. GSP imports were up by 11 percent – and tariffs savings up by 14 percent – compared to December 2015. Overall, GSP saved U.S. companies $729 million in 2016, an increase of over 10 percent from 2015.

Some states, such as Alabama and Ohio, saw particularly large increases in GSP imports and savings compared to December 2015, as shown in the graphic below.

GSP saved Alabama companies $451,000 in December, up $147,000 (48 percent) compared to one year earlier. Silicone from South Africa, PET resin from Brazil, and tungsten ores from Bolivia were among the products contributing most to Alabama’s GSP increases.

GSP saved Ohio companies $2.7 million in December, up $459,000 (21 percent) compared to one year earlier. Ferrochromium from Turkey, machining centers from Brazil, and pesticides from India contributed most to Ohio’s GSP increases.

In addition to Alabama and Ohio, companies in 18 other states saw GSP savings increase by at least 20 percent, including: Alaska, Arkansas, Connecticut, Delaware, Indiana, Iowa, Kansas, Louisiana, Maine, Mississippi, New Hampshire, New Mexico, New York, North Dakota, Oregon, Pennsylvania, Rhode Island, and Texas.

Savings on GSP imports from Egypt increased by 11 percent compared to one year earlier. New York’s purchases of olive oil were among the top GSP imports from Egypt. GSP eliminated nearly $900,000 in import taxes on mangoes and guavas in December, with California accounting for more than a quarter of those savings.

REMINDER: GSP EXPIRES AT THE END OF 2017. Click here to learn about ways to take action and support GSP renewal this year.

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American Families Love The Taste of GSP Savings https://renewgsptoday.com/2014/05/06/american-families-love-the-taste-of-gsp-savings/ Tue, 06 May 2014 16:13:04 +0000 http://renewgsp.wpengine.com/?p=3570 Think products that are imported into the United States free of tariffs (taxes) under the U.S. Generalized System of Preferences (GSP) program don’t matter to you? Think again. Previously, we’ve shown some of the products found around the house that people (and their pets) use every day. But that’s just the beginning: here’s what one raid of the pantry to search for GSP imports found!

GSP_PantryNot only are the above products – olive oil, prepared Thai and Indian foods, canned fruits, and spices – typically imported under GSP, all of the these brands are imported by American companies on the GSP supporter list! Most of them aren’t even available in the United States, so the choice for families is simple: buy imports or nothing!

The olive oil is imported from Tunisia by CHO America in Baytown, Texas. Even if you don’t recognize this brand, there’s a good chance you’ve tasted olive oil imported under GSP: Sovena USA in Rome, New York supplies more than 50 percent of private-label olive oils in the U.S. retail marketplace. Sovena imports olive oil from Turkey, Tunisia, and Egypt under GSP.

Connecticut companies Andre Prost in Old Saybrook and Preferred Brands International in Stamford import the “A Taste of Thai” and “Tasty Bite” packaged foods. If GSP were in place today, it would eliminate imports taxes of 6.4 percent on both of these products. Yet as a result of GSP expiration, it has cost an extra $850,000 per month to get these same foods into the United States.

Dole Packaged Foods in Westlake Village, California imports a variety of canned fruit products under GSP. These pineapples come from Thailand, but may also come from the Philippines and other GSP countries. GSP benefits help keep costs low for many tropical fruits and juices that would not be available on a year-round basis if not for imports.

Finally, the bottom row is for Sparks, Maryland-based McCormick & Company, one of the newest GSP supporter list companies. Not all McCormick spices benefit from GSP, but if you have as many different spices in your pantry as we do, you probably have GSP products in your home, too!

In each of these cases – the difference between lower and higher prices for American families is congressional action on GSP. Imagine the uproar if the sales tax on numerous food products doubled or tripled (or worse). In effect, that’s what happens when GSP expires. But since the taxes are collected at the border instead of at the cash register, most customers will remain unaware. If that changed, those customers might leave the market with a bitter taste in the mouth.

Imports Week Addendum: Do you see the fresh fruit on the left side of the picture? While not GSP products, they’re still imports and American families would be worse off without them, so in the spirit of Imports Work for America Week we’ve included their details. The bananas can be imported duty free from all countries, in this case from Costa Rica. If you’re incredibly perceptive, you’ll also see a mango and a cantaloupe – both from Guatemala. Both are eligible for duty-free treatment under GSP and may have claimed GSP in past years, but now they enter the United States under the Dominican Republic-Central America Free Trade Agreement (DR-CAFTA). If not for GSP and/or DR-CAFTA, both products would be subject to tariffs – 29.8 percent in the case of the cantaloupe! In our experience, duty-free cantaloupe tastes just a little bit sweeter.

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