According to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $89 million in May 2021. Congressional authorization for GSP expired on December 31, 2020. In the first five months of expiration, American companies paid at least $397 million in extra taxes as...
Continue readingIn 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 the first eight months of 2016, GSP saved American companies about $472 million in eliminated tariffs. Hawaii joined the list of states for which GSP eliminated at least $1 million in tariffs on imports, bringing the total to 38 states (plus Puerto Rico). The map below shows the overall GSP imports and savings by...
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