2018 GSP Savings by State

Written on July 25, 2019 in California

GSP saved American companies over $1.03 billion in 2018, smashing the previous high of $894 million set in 2017. GSP benefited companies in every state – and GSP savings exceeding $1 million for 41 states plus Puerto Rico. The map below shows the overall value of 2018 GSP imports (in blue) and tax savings (in...

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GSP saved American companies $102 million in April 2019

Written on June 20, 2019 in USA

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...

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GSP loss and weak jobs reports

Written on June 7, 2019 in USA

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,...

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President terminates GSP for India

Written on June 1, 2019 in USA

(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...

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President Trump terminates GSP for Turkey

Written on May 17, 2019 in California

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...

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How canceling GSP for India would benefit China

Written on May 6, 2019 in 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...

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