Last week, we wrote about how American companies have paid about $800 million in extra tariffs due to recent GSP country terminations but there has been no progress on any of the issues raised in country reviews. There are lots of new proposed eligibility criteria, and policymakers want to create an environment where those criteria...
Continue readingWhen 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 readingAccording to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $83 million in April 2021. Congressional authorization for GSP expired on December 31, 2020. In the first four months of expiration, American companies paid at least $308 million in extra taxes as....
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