Based on newly available July 2015 trade data, American companies paid about $1.3 billion in higher import taxes while GSP was expired between August 2013 to July 2015. With the retroactive GSP renewal, nearly all of that will be refunded automatically. The map below shows the breakdown of GSP tariffs paid during expiration that are...
Continue readingThey say a picture is worth a thousand words. The pictures above (or at least the checks in them) are worth SO much more. The checks are the first GSP refunds for The Cannon Group, a small business in Westerville, Ohio that imports plastic bags for newspapers from Sri Lanka. For nearly 2 years while...
Continue readingMay is World Trade Month. For most people, that means a chance to talk up the benefits of exports for American jobs. Yet for many American companies – and users of the U.S. Generalized System of Preferences (GSP) program in particular – access to imports has an important, positive, U.S. job impact that is too...
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