For many GSP importers, the retroactive renewal passed by Congress in October 2011 feels like just yesterday. Most companies didn’t start receiving refunds until early 2012. Yet here we are, one year later…and GSP expiration is creeping up once again. While the mid-year expiration isn’t the only challenge facing GSP r...
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 Wisconsin companies an estimated $4.9 million in 2011. Wisconsin companies imported an estimated ...
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