Last week we wrote about two-way links between GSP and inflation. We believe global inflation may be raising the cost of GSP imports – leading to higher tariffs, more U.S. inflation, and a risk of permanent GSP loss due to “CNLs.” We want to hear from you. If you’re a GSP importer, can you please...
Continue readingThis morning, BLS reported U.S. inflation of 8.6% in May, the highest rate since 1981. It is not just a US issue – earlier this week the OECD doubled its 2022 inflation estimate for member countries from 4.5% to 9%. GSP expiration raises prices, which in turn contributes to higher US inflation. At the same...
Continue readingTariffs paid by American companies due to expiration of the GSP program are high and rising fast. Based on an analysis of new U.S. Census Bureau data, American companies paid at least $118 million in tariffs on products claiming GSP in April due to GSP expiration, eclipsing the (then) record $113 million paid in March....
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