Last Friday, the U.S. government released the full-year trade data for 2012 showing that GSP imports reached $19.9 billion. This represents an increase of more than $1.3 billion, or about 7 percent, and is a significant jump considering the loss of GSP benefits for former top-10 suppliers Argentina (kicked out) and Colombia (GSP replace...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Wyoming companies an estimated $84,000 in 2011. Wyoming companies imported an estimated $2.6 mill...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Pennsylvania companies an estimated $26.7 million in 2011. Pennsylvania companies imported an est...
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