Written on December 10, 2017 in
USA
GSP is scheduled to expire on December 31, but Congress currently plans to adjourn by December 22. That means failure to renew GSP in the next 2 weeks likely results in an expiration that – if recent history is an example – could last years. As we continue advocating for GSP renewal, we want to...
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Written on November 17, 2017 in
USA
In the first nine months of 2017, GSP saved American companies $619 million in eliminated tariffs. Year-to-date GSP savings through September exceeded $1 million for 39 states plus Puerto Rico. The map below shows the overall value of year-to-date 2017 GSP imports (in blue) and tax savings (in red) by state.
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Written on November 14, 2017 in
USA
On November 14, more than 350 American companies and associations sent a letter to leaders of the House Ways and Means and Senate Finance Committees urging extension of the GSP program. GSP’s current authorization expires on December 31, and companies will be forced to pay over $2 million per day in extra taxes if Congress...
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