According to new research from the Coalition for GSP, the Generalized System of Preferences (GSP) program saved American companies $1.035 billion in 2019. Total imports under GSP were nearly $21 billion. While imports under GSP were down from 2018, savings were about the same, as the average tariff waived jumped to 5.0% in 2019 from...
Continue readingLast week, the House passed GSP renewal legislation by a vote of 400-2. Though Senate procedural rules make a stand-alone vote in the Senate unlikely, the expected result would be similar. (The last Senate vote was 97-1.) Despite overwhelming support in the House and Senate – and Administration support for a 3-year renewal – American...
Continue readingEarlier this week we heard from Custom Direct, Inc., yet another supporter list company urging Congress to pass a swift, retroactive GSP renewal. (Use these links to see the full list or add your organization.) Based in Plano, Texas, Custom Direct is a US supplier of luggage, bags and cases with 10 employees. The company works...
Continue reading