Yesterday, we showed some everyday household items (plates, picture frames….wine) that receive duty-free treatment under GSP and reduce costs for American families in the process. Yet while families often save money from GSP unknowingly, manufacturers incorporate GSP into their sourcing strategy to reduce costs and increase competitive...
Continue readingGSP provides clear benefits to American families by eliminating taxes on a variety of food products and home goods. In 2012, GSP eliminated nearly $280 million in import taxes on those products alone. But instead of talking about how GSP reduces prices for the American families in the abstract, we thought we’d show you some...
Continue readingSome people might think that GSP’s relatively low share of total U.S. imports means it doesn’t have a big impact. However, for the products covered by GSP – and the American companies buying those products – its importance cannot be overstated. There were approximately 10,600 country-product combinations imported under...
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