GSP and the April 26 Primary States
Today is yet another big day in the 2016 presidential primaries as voters head to the polls in Connecticut, Delaware, Maryland, Pennsylvania, and Rhode Island. With all of the anti-trade rhetoric in the campaign, it is important to recognize how these states benefit from trade, and the Generalized System of Preferences (GSP) program in particular.....
Continue readingCoalition for GSP Joins with Leading Trade Groups to Announce 5th Annual “Imports Work” Week
Yesterday, the Coalition for GSP joined with nearly two dozen leading trade groups to announce that the fifth annual “Imports Work” Week will take place from May 9-13, 2016. A study unveiled during Imports Work Week in 2013 found that 16 million U.S. jobs depend on imports. Another study by HSBC shows that imports save...
Continue readingGSP Saved American Companies $54 Million in February 2016
In February, the GSP program saved American companies more than $54 million on about $1.4 billion in imports. The GSP program saved U.S. companies $109 million in the first two months of 2016. Overall, GSP tariff savings increased increased by 31 percent compared to February 2015. The value of imports under GSP increased 30 percent....
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Week In Volgograd
Volgograd (Russian: Волгогра́д vuhl-gah-GRAHD) used to be called Stalingrad. It lies along the west bank of the Volga River in Southern Russia. It was the scene of one of the most important and bloodiest battles of the Second World War. Volgograd is one of the most beautiful ancient cities ...
Continue readingGSP Saved American Companies $54 Million in January 2016
In January, the GSP program saved American companies more than $54 million on about $1.4 billion in imports. The GSP program has saved U.S. companies more than $5.6 billion since 2008. Overall, GSP tariff savings increased increased by 1.6 percent compared to January 2015. The value of imports under GSP fell slightly (-1.8 percent), but...
Continue readingGSP Saved American Companies $663 Million in 2015
In 2015, the Generalized System of Preferences (GSP) program saved American companies more than $660 million on $17.4 billion in imports. The infographic below highlights some other key facts and figures about the GSP program for 2015.
Continue readingGSP Renewal Saved American Companies $57 Million in November
GSP renewal appears to be having a very positive impact on American companies – and their sourcing from GSP countries. Based on data released last week, American importers saved $57 million in November 2015 as a result of the program’s reinstatement in late July 2015. In total, GSP saved American companies $230 million between Augu...
Continue readingUSTR Publishes “Warning List” for Products that could Lose GSP Benefits in 2015 Annual Review
The Office of the U.S. Trade Representative has published the list of products at risk of losing GSP benefits for exceeding “competitive need limits” in 2015. The list is based on import data from January to September and includes any product whose imports during that period: exceeded $110 million, or accounted for more than 42%...
Continue readingGSP Renewal Allows Small Business to Hire 2 New Workers
Fab-Line Machinery, which has facilities in St. Charles, Illinois and Nashville, Tennessee, imports metal fabrication machinery from Turkey under GSP. The products, including hydraulic press breaks, hydraulic shears, and plasma cutting systems, are used by American manufacturers for domestic production. Based on its response to our new GSP renewal ...
Continue readingNEW SURVEY: GSP Renewal Impacts
After a nearly 2-year expiration, Congress retroactively renewed GSP in June. During the expiration, some of the most powerful arguments for GSP renewal came from two surveys highlighting company-specific impacts (reports here and here). To start building the case now for GSP extension beyond 2017, we must show the positive impacts of GSP renewal a...
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