Written on May 8, 2012 in
GSP When imports enter the United States, they often face tariffs – taxes – collected by the U.S. government. Some of these tariffs are pretty high: 13.5% for inexpensive silver jewelry, 12.5% for flashlights, and 10.0% for coffee mugs. Everyday food products are often worse: 17.9% for nuts and seeds, 15.0% for Parmesan cheese, ...
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Written on May 7, 2012 in
GSP The Generalized System of Preferences (GSP) is a U.S. trade program that eliminates the tariffs (i.e., taxes) paid by American companies when they import certain products from about 130 developing countries around the world. GSP was created in the 1970s as part of an international effort to promote development through “trade, not aid.&r...
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