Advocates meet with 90+ House and Senate offices about the need to renew GSP
Last week, approximately 60 GSP advocates met with Members and staff for 90+ Congressional offices from 20+ states – or almost 20% of the 118th Congress. The Coalition for GSP’s lobby day was an opportunity for GSP users to share their expiration stories directly with key Members, including new House Ways & Means Committee Chairman....
Continue reading
Congress raises Valentine’s Day costs
Most people know that Valentine’s Day is the #1 holiday for rose sales in the United States. Demand for many other gift items surges too. Sadly, Americans are paying extra taxes on roses and many other gift items because Congress has failed to renew GSP. Let’s look first at flowers. Last Friday, U.S. Customs and...
Continue reading118th Congress: GSP expiration survey
The 118th Congress is off to a slow start, after the 117th Congress was the first to let GSP remain lapsed in its entirety in the program’s nearly 50-year history. Not only is this the longest expiration in GSP’s history, the tariff costs associated with expiration will soon be at least twice as high as...
Continue readingClark Griswold hates GSP expiration
If you’ve bought any holiday lights either this year or last – or you’re a Member of Congress or the Administration that wants supply chains to move out of China – then you should hate GSP expiration too. Fun, old-fashioned family Christmas lights have faced up to $65 million in extra tariffs due to GSP...
Continue readingNearly 300 organizations urge Congress to pass GSP legislation in Lame Duck
On November 30, a broad range of American companies and associations sent a letter urging Congressional leaders to prioritize legislative action on the Generalized System of Preferences (GSP) program in the Lame Duck session. GSP expired on December 31, 2020. It soon could become the longest GSP lapse ever and the first time GSP remained...
Continue readingGSP users deserve treats, not more tricks, this Halloween
It has been exactly 22 months since Congress let GSP expire. American companies paid at least $1.9 billion in direct tariffs – and as much $2.4 billion – through August 2022. Tack on the two extra months for which data aren’t available yet, and Congress’ failure to renew GSP resulted in up to $2.6 billion...
Continue readingGSP lapse costs American companies $1.8+ billion through July 2022
Based on an analysis of new U.S. Census Bureau data, American companies paid $107+ million in extra tariffs in July due to GSP expiration – and $1.8+ billion in new tariffs from January 2021 and July 2022. Tariff costs resulting from GSP expiration are up about 40% in 2022, from an average of $80 million/month...
Continue readingGSP expiration makes high “Back to School” tariffs even worse
On Friday, the National Taxpayers Union published data showing how Back To School Season Highlights High Cost of Import Taxes, including the great graphic below. Sadly, even those high tariffs are understated because they don’t account for the impacts of GSP expiration. NTU’s selected products faced at least $120 million in extra tariff...
Continue readingGSP expiration led to $1.7 billion in extra tariffs on American companies through June 2022
Tariffs paid by American companies due to expiration of the GSP program keep going up up up. Based on an analysis of new U.S. Census Bureau data, American companies paid at least $113 million in tariffs on products claiming GSP in June due to GSP expiration – and $1.7 billion in new tariffs from January...
Continue readingNEW SURVEY: GSP expiration costs
Key pieces of the China competition bill passed Congress this week, but without GSP renewal (or any of the other trade provisions). While GSP importers must plan for months more of GSP expiration, the Coalition is considering a number of potential next steps (e.g., new legislative requests, importer sign-on letter, September fly-in to lobby for...
Continue reading