October 2021 would’ve been the highest month ever for GSP savings – if GSP wasn’t expired

Written on December 8, 2021 in Alabama

Based on an analysis of new U.S. Census Bureau data released yesterday, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $110 million in October 2021. Had congressional authorization for GSP not expired on December 31, 2020, it would’ve been the highest month of tariffs eliminated in the histo...

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How GSP helps workers in countries like Cambodia

Written on November 30, 2021 in USA

If someone hears “labor intensive manufacturing in Cambodia,” the mental image is probably nothing what they’d see by visiting the Montana Fly Company (MFC) factory in Phnom Penh. Based in Columbia Falls, Montana and founded in 1998, MFC now has distributors in every fly fishing country. The nature of MFC’s products – ...

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75 House Members support framework for restored GSP for India

Written on November 22, 2021 in India

On November 19, 75 Members of the House of Representatives sent a letter to U.S. Trade Representative Katherine Tai supporting U.S.-India negotiations, including a “framework for a deal that could be implemented soon after Congress reauthorizes the GSP program.” The letter was led by House Ways and Means Committee Members Suzan DelBene ...

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American companies paid another $97 million in tariffs due to GSP expiration in September 2021

Written on November 5, 2021 in Alabama

Based on an analysis of new U.S. Census Bureau data released yesterday, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $97 million in September 2021. Congressional authorization for GSP expired on December 31, 2020. Citing these growing costs along side Covid-related and supply chain challenges, o...

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Over 300 American organizations urge Congress to renew GSP, consider changes beyond eligibility criteria

Written on September 21, 2021 in USA

On September 21, 308 American companies and associations sent a letter to Senate Finance and House Ways and Means Committee Chairmen Ron Wyden and Richard Neal and Ranking Members Mike Crapo and Kevin Brady urging retroactive renewal of the Generalized System of Preferences (GSP). Companies are headquartered in 40 states and about 175 different Con...

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GSP expiration makes back-to-school tariffs even worse

Written on August 31, 2021 in USA

Bryan Riley of the National Taxpayers Union recently wrote about how “tariffs impose a hidden tax on families and increase the price of many goods students may need as they return to the classroom.” NTU created the infographic below to show just how high average tariffs on many everyday products were in 2020. While GSP...

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