2019 GSP highlights by sector

Written on May 13, 2020 in Ecuador

In 2019, GSP saved American companies $1.035 billion in eliminated tariffs, including $24 million on Covid-related products. The graphic below highlights the variety of products imported under GSP last year. In a major shift from 2018, consumer goods were the largest category of GSP imports by both value ($6.6 billion) and savings ($512 million). C...

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GSP eliminated over $24 million in tariffs in 2019 on products directly related to Covid-19 response

Written on May 8, 2020 in India

GSP eliminated over $24 million in tariffs in 2019 on products directly related to Covid-19 response. Congress should renew GSP immediately to ensure continued GSP duty-free treatment for these critical products and provide certainty for American companies that are already struggling due to the coronavirus pandemic. GSP’s current authorizatio...

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GSP saved American companies $1.035 billion in 2019

Written on May 5, 2020 in USA

According to new research from the Coalition for GSP, the Generalized System of Preferences (GSP) program saved American companies $1.035 billion in 2019. Total imports under GSP were nearly $21 billion. While imports under GSP were down from 2018, savings were about the same, as the average tariff waived jumped to 5.0% in 2019 from...

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NEW SURVEY: COVID-19 impacts on GSP importers

Written on March 27, 2020 in USA

In recent weeks, Congressional offices and the Administration have asked the GSP Coalition how COVID-19 is impacting companies. Please take a moment to answer survey below so we can answer such questions. It should take less than a minute to answer the yes/no/not yet questions that will help us provide a sense scale to issues...

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GSP saved American companies $74 million in November

Written on January 13, 2020 in USA

GSP saved American companies $74 million in November. GSP saved American companies $962 million in the first 11 months of 2019 compared to $950 million in the same period in 2018. GSP savings in November 2019 declined by about $17 million (-19%) from November 2018. It marked the sixth month in a row that year-over-year...

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GSP saved American companies $91 million in October

Written on December 19, 2019 in USA

GSP saved American companies $91 million in October, about $15 million less (-15%) from October 2018. It marked the fifth month in a row that year-over-year savings declined. Before June 2019, year-over-year GSP savings rose in 37 straight months. Savings declines were due wholly to terminated GSP for India and Turkey. Lost GSP for India...

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GSP saved American companies $80 million in September

Written on November 20, 2019 in Brazil

GSP saved American companies $80 million in September, about $10 million less (-11%) from September 2018. It marked the fourth month in a row that year-over-year savings declined, due wholly to terminated GSP for India and Turkey. Despite lost GSP for those two key supplier countries, GSP saved American companies $797 million in the first...

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Lost GSP for India cost American companies $30 million in July

Written on September 20, 2019 in USA

Costs to American companies from the Administration’s decision to terminate India’s GSP eligibility continue to grow. In July alone, US importers paid an estimated $30.4 million in new tariffs (previously) duty-free imports from India. Lost GSP is hurting companies like Warehouse Associates, which canceled plans to create new US manufac...

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