Year-to-Date GSP Savings By State through April 2016
In the first four months of 2016, GSP saved American companies about $230 million in eliminated tariffs. The map below shows the overall GSP imports and savings by state from January to April. Companies in California continued to lead the way with $36 million in tax savings, followed by companies in New Jersey with $20...
Continue readingGSP Saved American Companies $60 Million in April 2016
In April, the GSP program saved American companies $60 million on about $1.6 billion in imports. The GSP program saved U.S. companies $230 million in the first four months of 2016. Overall, the value of GSP imports and tariff savings both increased slightly compared to April 2015. Some states, such as South Carolina and New...
Continue readingMap of 2016 Year-to-Date GSP Savings by State
In the first three months of 2016, GSP has saved American companies about $170 million in eliminated tariffs. Previously, we’ve shown some of the states, products, and countries with the biggest increases in January, February, and March (and will continue to do so going forward). The map below shows the overall GSP imports and savings...
Continue readingGSP Saved American Companies $62 Million in March 2016
In March, the GSP program saved American companies nearly $62 million on about $1.6 billion in imports. The GSP program saved U.S. companies $170 million in the first three months of 2016. Overall, GSP tariff savings increased increased by 8 percent compared to March 2015. The value of imports under GSP increased 6 percent. Some...
Continue readingOn Oregon Primary Day, Watch Senator Wyden Talk About Need to Renew GSP
What better way to spend a few minutes on Oregon primary day than watching Senate Finance Committee Ranking Member Ron Wyden (D-OR) talk about the importance of GSP renewal? In the clip below, Senator Wyden discusses how GSP is an “economic win-win” for developing countries and U.S. manufacturers, including GSP Supporter List company St...
Continue readingThe Importance of Renewing GSP
All week we’ve been discussing the importance of GSP for American jobs, families, manufacturing, and global development as part of the 5th Annual Imports Work week. These benefits generally are recognized – when Congress last renewed GSP there were big bipartisan votes in both the Senate and the House – but the challenge has often...
Continue readingGSP Importers Go Above and Beyond to Promote Global Development
While we generally focus on the benefits to U.S. companies of the GSP program, it is important to remember that sourcing from GSP countries has a positive impact on the lives of workers and their families in developing countries. Sometimes, the benefits to poor workers come simply from having a job that otherwise would not...
Continue readingGSP Imports Help American Manufacturers Compete
Discussions about trade often present a false dichotomy: if exports are good and then imports must be bad. This oversimplified view lends itself to policy prescriptions that encourage exporters and discourage importers, yet the real world is much more complicated. According to the Census Bureau’s 2013-2014 Profile of U.S. Importing and Export...
Continue readingAmerican Families Benefit from GSP Imports – Even If They Don’t Know It
One of the great benefits of trade, and imports specifically, is that individuals can reap the rewards without taking the time to be an active participant in trading activities. Americans do not have to travel to Central and South America to buy fresh fruit in the winter or identify possible suppliers in the Mediterranean to...
Continue readingImportance of GSP Imports for American Jobs
The 2016 presidential elections have focused a lot on trade – and not in a good way. The remaining candidates on both sides of the aisle seem to be jockeying for the mantle of “Most Protectionist.” In current environment, it is more important than ever to speak about the benefits of imports as part of...
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