batteries – Renew GSP Today

GSP Saved American Companies $62 Million in August 2016

Renew GSP Today — Thu, 20 Oct 2016 16:37:35 +0000

In August, the GSP program saved American companies $62 million on about $1.6 billion in imports. The value of GSP imports increased by about 5 percent, while tariff savings increased by about 11 percent compared to August 2015.

Overall, GSP saved U.S. companies $472 million in the first eight months of 2016. GSP savings in 2016 are up about $40 million, or 9 percent, compared to the first eight months of 2015.

Some states, such as Colorado and North Carolina, saw particularly large increases in GSP imports and savings compared to August 2015, as shown in the graphic below.

In Colorado, GSP imports increased by about 19 percent and savings by about 46 percent compared to one year earlier. Optical goods from the Philippines, electric motor parts from India, and monumental building stone from Brazil all contributed to Colorado’s GSP increases.

In North Carolina, GSP imports increased by 14 percent and savings from GSP by 21 percent compared to one year earlier. Chemicals from the Philippines, batteries from Indonesia, and furniture fittings from Thailand contributed most to North Carolina’s GSP increases.

Savings on GSP imports from Brazil jumped 30 percent, led by increased imports of machining centers in Ohio. GSP eliminated about $184,000 in import taxes on microphones in August, with more than $100,000 saved on imports into California alone.

If your company imports under GSP, be sure to answer our GSP renewal impacts survey here.

Educating Congress About GSP Renewal, Part 1

Dan Anthony — Thu, 02 May 2013 20:54:42 +0000

Earlier today, we had two more meetings with staff for House Members that serve on the Ways and Means Committee: Reps. James Renacci (OH-16) and Pat Tiberi (OH-12). These were meetings #20 and #21 since the beginning of last week, and we have more coming up. Some of you might wonder, what do you do in these meetings and why do they matter?

What Do We Do?

At the most basic level, we make sure they know that GSP is scheduled to expire on July 31. Sounds obvious, but… Congress deals with many, many issues and if GSP importers don’t remind them about GSP, who will?

We also highlight some key facts and figures from our GSP Annual Report.

Most importantly, we show them the local impacts of GSP. For both of today’s meetings, that involved our new 2012 Ohio report:

Since our meetings were on the House as opposed to the Senate side, we used the Panjiva import/export database to find constituent companies importing goods receiving duty-free treatment because of GSP.

For Ohio’s 16^th District, this includes well-known companies like Energizer, which imports batteries from Indonesia, and Moen, which imports faucet parts from Thailand and Turkey, as well as smaller companies like Zibex, which imports chemicals from India. Here’s what the district-specific information for Ohio’s 12^th District looked like:

So when we set up meetings, drilling down to the most local level possible is always our goal. Tomorrow, we’ll talk about why it is so important.