GSP imports were up by 15 percent – and tariffs savings were up by 17 percent – compared to a year earlier. Some states such as Nebraska and Maryland saw much larger increases in GSP imports and savings compared to the previous year, as shown in the graphic below.

GSP saved Nebraska companies $105,000 thousand in June, up $42,000 (68 percent) compared to one year earlier. Activated carbon from the Philippines, copper alloys and rubber stoppers from India, and aluminum frames from Thailand contributed most to Nebraska’s GSP increases.

GSP saved Maryland companies $2.1 million in June, up over $450,000 (28 percent) compared to one year earlier. Silicon from Kazakhstan, carbides from South Africa, and zinc from India contributed most to Maryland’s GSP increases.

In addition to Nebraska and Maryland, companies in 17 other states saw GSP savings increase by at least 20 percent, including: Alabama, Alaska, California, Colorado, Delaware, Indiana, Louisiana, Maine, Montana, Nevada, New Hampshire, North Carolina, Pennsylvania, Texas, Virginia, Washington, and Wisconsin.

Savings on GSP imports from Lebanon increased by 58 percent compared to June of last year. Illinois companies’ purchases of nuts accounted for nearly $250,000 of the GSP imports from Lebanon. GSP eliminated about $471,000 in import taxes on steering wheels in June, with more than a fifth of those savings on imports into Michigan.

Alaska companies imported an estimated $2.6 million under GSP in 2011, saving them on average 3.8%. Indonesia was the most important source of GSP imports, accounting for about 57 percent of the tariff savings. Sorbitol (a food additive) was Alaska’s top import under GSP in 2011 and would have faced average tariffs of 4.9% without GSP.

Yet GSP is set to expire on July 31, 2013, and companies could face tariffs higher tariffs starting on August 1 if Congress does not pass legislation renewing GSP. When GSP expired at the end of 2010, American companies paid nearly $2 million per day, every day, until Congress finally acted 11 months later!

This graphic shows just some of the negative impacts from the last GSP expiration. It also helps explain why more than 335 companies and associations joined the 2011 GSP Supporter List urging renewal of the program when it last expired.

Are you an Alaska company that would be hurt by GSP expiration? If so, please take 30 seconds to let Congress know by adding your name to our free 2013 GSP Supporter List right now.