GSP saved American companies $72 million in June, about $17 million less (-19%) from July 2018. It marked the second month in a row that year-over-year savings due to terminated GSP for India and Turkey. In the first seven months of 2019, GSP saved American companies $628 million. Lost GSP for India cost American companies...
Continue readingCosts are rising for American companies that have depended for decades on GSP benefits for key supplier countries. American companies paid over $10 million in new tariffs through June to the Administration’s choice to terminate GSP for Turkey. That is on top of the $25 million in tariffs paid in June on previously GSP-eligible products...
Continue readingYesterday we wrote that GSP savings plummeted to $66 million in June. GSP savings fell by the most since the 2008-2009 financial crisis. But while external forces caused the last big drop, this one stemmed from the Administration’s choice to make American companies tariffs on previously duty-free imports from India (and Turkey). The price tag...
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