GSP saved American companies $407 million in the first half of 2020

Written on August 11, 2020 in USA

According to new research from the Coalition for GSP, the Generalized System of Preferences (GSP) program saved American companies $407 million from January to June 2020. Total imports under GSP were about $7.6 billion. Though figures were down sharply from the first half of 2019, when GSP eliminated about $555 million in tariffs on $11.7...

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If the Trump administration wants supply chains to leave China, it should restore GSP for India (and support GSP renewal)

Written on July 23, 2020 in USA

Yesterday at a virtual conference hosted by the U.S.-India Business Council, U.S. Secretary of State Mike Pompeo said India may be poised to lure American supply chains away from China because it “has earned the trust of many nations, including the United States.” Mr. Secretary, please call your colleagues at the Office of the U.S....

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How handbags show the links between GSP expiration, French digital service taxes, China, and “negotiating leverage”

Written on July 15, 2020 in USA

The United States recently announced it would impose 25% tariffs on $1.3 billion in imports from France, including handbags, effective January 6, 2021. The tariffs are in response to planned French digital services tax (DST) that largely affect American technology companies. Presumably, the U.S. announced the product list – with delayed imple...

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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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