According 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 May 2021. Congressional authorization for GSP expired on December 31, 2020. In the first six months of expiration, American companies paid at least $480 million in extra taxes as...
Continue readingIn the last month before GSP expired on December 31, it saved American companies $79 million on about $1.8 billion in imports. GSP imports were up by 17 percent – and tariffs savings were up by 29 percent – compared to December 2016. Total 2017 savings from GSP increased at least $136 million over 2016....
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 reading