In the first seven months of 2017, GSP saved American companies $472 million in eliminated tariffs. With the addition of Delaware and Hawaii, year-to-date GSP savings through July exceeded $1 million for 39 states plus Puerto Rico. The map below shows the overall value of year-to-date 2017 GSP imports (in blue) and tax savings (in...
Continue readingIn June 2017, the GSP program saved American companies $71 million on about $1.8 billion in imports. June marked the first time that monthly GSP savings exceeded $70 million in consecutive months since September-October 2008. (GSP saved American companies $72 million May). GSP imports were up by 15 percent – and tariffs savings were up...
Continue readingOn Friday, the National Retail Federation sent a letter to every Member of Congress urging support for immediate Congressional consideration and passage. The letter stated that GSP is “critical to American employers and families that this important trade program is renewed in advance of its expiration.” Given GSP’s broad bipartisa...
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