When it comes to GSP eligibility criteria, imposing higher tariffs without accomplishing any positive changes in GSP country policies is the absolute worst-case scenario. It is also the norm. Due to GSP country terminations of Turkey (May 2019) and India (June 2019) and partial suspensions of Thailand (April 2020, December 2020), American companies...
Continue readingGSP saved American companies nearly $900 million in 2020. GSP benefited companies in every state – and the map below shows the overall value of 2020 GSP imports (in blue) and tax savings (in red) by state. California accounts for more than a quarter of GSP savings, more than the next 3 states – New...
Continue readingCongress allowed the GSP program to expire on December 31. With tariff savings of nearly $3 million per day, GSP expiration likely has cost American companies over $70 million in new taxes. We recently spoke with Patrice Gerber, Founder/CEO of small business Kouboo LLC in Laguna Beach, California – one of those hurt by GSP...
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