Based on an analysis of new U.S. Census Bureau data released today, expiration of the Generalized System of Preferences (GSP) program cost American companies $100+ million in August 2021. Congressional authorization for GSP expired on December 31, 2020. Citing these growing costs along side Covid-related and supply chain challenges, over 300 U.S. c...
Continue readingAccording 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 readingGSP saved American companies over $400 million in the first half of 2020. GSP benefited companies in every state – and the map below shows the overall value of January-June 2020 GSP imports (in blue) and tax savings (in red) by state. The top states by GSP savings have been fairly consistent over the years....
Continue reading