GSP saved American companies $102 million in April 2019
GSP saved American companies $102 million in April, an increase of over $18 million (22%) from April 2018 and the third-highest level on record. In the first four months of 2019, GSP saved American companies $385 million. That is $75 million more than the same period in 2018 – itself a record-shattering year. For the...
Continue readingSURVEY: How has lost GSP for India, Thailand and/or Turkey impacted your company?
NOTE: Updated in September 2020. Since May 2019, the United States has terminated GSP for India and Turkey, and partially suspended benefits for Thailand. Collectively, the decisions cost American companies up to $460 million between May 2019 and July 2020. We’re seeking updated info about lost GSP impacts to use while speaking with Congressi...
Continue readingGSP loss and weak jobs reports
This week, India officially lost it GSP benefits. Combined with the Turkey GSP decision from mid-May, companies must now pay an extra $1 million a day in new taxes despite Congress’ explicit authorization to make those imports duty-free. This week, there also were two subpar jobs reports. BLS reported just 75,000 new nonfarm payroll jobs,...
Continue readingPresident terminates GSP for India
(WASHINGTON) – Coalition for GSP Executive Director Dan Anthony released the following statement this evening after President Trump signed the proclamation ending Generalized System of Preferences (GSP) eligibility for India. For detailed information on how this action will hurt U.S. businesses and workers visit HERE. &ld...
Continue readingPresident Trump terminates GSP for Turkey
Last night, President Trump signed a presidential proclamation terminating GSP for Turkey. The decision took effect immediately (May 17), following the March 4 notification of intent to terminate after at least 60 days. That 60-day minimum period ends on May 4. “We know who this will hurt – small but growing American businesses that dep...
Continue readingNew data shows trade wars pushing companies from China to GSP countries
Evidence continues to grow that the nearly year-long trade war is pushing companies to source more from GSP countries such as India, Thailand, Cambodia, Indonesia, and Turkey. The May 10 increase in tariffs on $200 billion in imports from China – and announcement that new tariffs on the remaining $300 billion in imports could come...
Continue readingHow canceling GSP for India would benefit China
A key finding of the recent report on GSP termination impacts was that over 30% of companies would look to source more from China if GSP benefits went away. That was about the same share of companies reporting they would source more from any of the approximately 120 remaining GSP countries, and much higher than...
Continue readingBipartisan House members call on Trump administration not to terminate GSP benefits for India
A bipartisan group of members of the U.S. House of Representatives yesterday wrote to U.S. Trade Representative Robert Lighthizer urging the Trump administration not to terminate India’s ability to provide U.S. businesses with duty-free imports under the Generalized System of Preferences (GSP) program. The letter, which came from 25 Members o...
Continue readingNEW REPORT: How GSP Termination would Hurt American Businesses & Workers
The Coalition for GSP today released an in-depth survey of American businesses that details how they will be harmed by loss of duty-free imports under the Generalized System of Preferences (GSP) program. On March 4, The Trump administration announced its intent to terminate eligibility for India and Turkey under the GSP program and a formal...
Continue readingTerminating GSP for India could lead to massive tax hikes on US…exports?
GSP terminations for India and Turkey could take effect as soon as Saturday, May 4. Nothing happens automatically – a Presidential Proclamation setting an implementation date must be issued – after May 4 any such proclamation can take effect immediately. Kicking India and Turkey out would cost American companies over $300 million annual...
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