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 readingAmerican companies paid at least $70 million in tariffs in January 2021 due to GSP expiration. The map below shows estimated tariffs for products claiming GSP paid by state. The products facing the most new tariffs vary greatly by state: In Florida, roses faced more than $1.8 million in new tariffs due to GSP expiration...
Continue readingIn the 4 months of 2017, GSP saved American companies $256 million in eliminated tariffs. Year-to-date savings crossed the $1 million threshold for 4 states, including Colorado, Mississippi, New Hampshire, and Oregon. In total, GSP savings through April exceeded $1 million for 32 states plus Puerto Rico. The map below shows the overall value of...
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