New trade data for January came out yesterday and the numbers aren’t pretty: American companies paid $77 million in extra taxes because Congress failed to renew GSP last year. By comparison, the most tariffs paid in a single month during the last 2-year expiration was “just” $61 million. So the stakes for a swift, retroactive...
Continue readingGSP 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...
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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