GSP and Iowa: Fast Facts

The Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Iowa companies an estimated $3.5 million in 2011. Iowa companies imported an estimated $93.9 mill...