In the first four months of expiration, American companies paid at least $308 million in extra taxes as a result of GSP expiration. Companies in 31 states paid at least $1 million in tariffs from January-April 2021 due to GSP expiration. The map below shows estimated tariffs for products claiming GSP paid by state in that period.

April was the most expensive month of GSP expiration yet for 21 states – stretching from Florida to Alaska:

• GSP expiration costs have increased every month in Alabama, Colorado, Delaware, Idaho, Kansas, and Virginia.
• GSP expiration costs were about 4x higher in April than January in both Idaho and Delaware, and nearly 2x higher in Colorado and Alabama.
• The extra $2 million in tariffs paid in April by companies in Indiana is 40% higher than the average in the first three months of the year, while the $370,000 paid by companies in Nevada was 75% over the January to March average.

GSP expiration impacts are getting worse over time.

The data on tariffs paid is a conservative estimate, and the real figure likely is higher. Why? Estimates only capture products that continued to claim GSP despite expiration. Yet imports of many products that traditionally get GSP have not claimed it in 2021. Tariffs paid on those imports still would be eligible for refunds in the event of a retroactive renewal, but importers would need to file manual requests.

GSP expiration is already costing American jobs and raising prices for American companies that need inputs and consumers that purchase finished goods. It is critical that Congress renew GSP – with refunds for tariffs paid – as soon as possible. To help the Coalition for GSP educate policymakers on who is hurt by expiration (and how), companies are strongly encouraged to:

• join the Coalition for GSP
• add their name to the free GSP supporter list
• answer our very short survey on GSP expiration impacts to date

Even before upward revisions, U.S. companies’ tax benefits from GSP showed massive increases from past years: American companies saved nearly $20 million per month more in 2017 because of GSP compared to just two years earlier.

Through the first half of 2018, GSP savings are up an additional 18 percent and on track to crack $1 billion for the year. While Congress renewed GSP through 2020 to give companies the certainty necessary to encourage such growth, the Trump administration has launched a number of country “eligibility reviews” that could raise taxes for American companies that depend on GSP – by a lot.

There are GSP reviews underway for India, Indonesia, Kazakhstan, Thailand, and Turkey. American companies saved $544 million last year due to GSP for those countries. Collectively, they accounted for 61 percent of GSP savings on imports from all countries.

Given the risk of lost GSP, we strongly encourage companies importing from those countries to sign up for our GSP supporter list and take our review impacts survey, which are both free.

In terms of specific revisions based on the new data, New Jersey saw the biggest jump in savings by value, followed by Florida, California, Georgia, and New York.

Montana saw the biggest jump in GSP savings by percent, followed by Utah, Maine, Florida, and Nevada.

For supplier countries, the largest revision in US savings came on imports from the Philippines, followed by Indonesia, India, Thailand, and Brazil.

Some states such as Georgia and North Carolina saw much larger increases in GSP imports and savings compared to the previous year, as shown in the graphic below.

GSP saved Georgia companies $3.9 million in December, up $1.3 million (49 percent) compared to one year earlier. Metal products from Brazil, luggage from Thailand,  and chemicals from India contributed the most to Georgia’s GSP savings increases.

GSP saved North Carolina companies $2.0 million in December, up $577,000 (39 percent) compared to one year earlier. Chemicals from the Philippines, furniture fittings from Thailand, and wood products from Indonesia contributed most to North Carolina’s GSP increases.

In addition to Georgia and North Carolina, companies in 26 other states saw GSP savings increase by at least 20 percent, including: California, Connecticut, Florida, Idaho, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Minnesota, Missouri, Montana, Nebraska, Nevada, New Jersey, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wyoming.

Savings on GSP imports from Indonesia increased by 31 percent compared to December of last year. California companies’ alone imported $4.6 million in silver jewelry under GSP in December. GSP eliminated about $1.5 million in import taxes on mangoes and guavas in December. About two-thirds of those savings were on imports into New Jersey.

*** REMINDER: GSP EXPIRED EFFECTIVE JANUARY 1.***

The House passed GSP renewal legislation in February, but the Senate must pass legislation for GSP benefits to resume. Please use our Contact Congress tool to write your Senators about GSP renewal; answer our brief survey on how GSP expiration impacts you, and/or sign up for the free GSP supporter list to show the broad support for renewal.

GSP imports were up by 15 percent – and tariffs savings were up by 17 percent – compared to a year earlier. Some states such as Nebraska and Maryland saw much larger increases in GSP imports and savings compared to the previous year, as shown in the graphic below.

GSP saved Nebraska companies $105,000 thousand in June, up $42,000 (68 percent) compared to one year earlier. Activated carbon from the Philippines, copper alloys and rubber stoppers from India, and aluminum frames from Thailand contributed most to Nebraska’s GSP increases.

GSP saved Maryland companies $2.1 million in June, up over $450,000 (28 percent) compared to one year earlier. Silicon from Kazakhstan, carbides from South Africa, and zinc from India contributed most to Maryland’s GSP increases.

In addition to Nebraska and Maryland, companies in 17 other states saw GSP savings increase by at least 20 percent, including: Alabama, Alaska, California, Colorado, Delaware, Indiana, Louisiana, Maine, Montana, Nevada, New Hampshire, North Carolina, Pennsylvania, Texas, Virginia, Washington, and Wisconsin.

Savings on GSP imports from Lebanon increased by 58 percent compared to June of last year. Illinois companies’ purchases of nuts accounted for nearly $250,000 of the GSP imports from Lebanon. GSP eliminated about $471,000 in import taxes on steering wheels in June, with more than a fifth of those savings on imports into Michigan.

The map below shows the overall value of year-to-date 2017 GSP imports (in blue) and tax savings (in red) by state.

This map will be updated monthly as new trade data become available and the most up-to-date version will be available at all times on our Graphics page. These posts highlight select states, products, and countries contributing to increases in January, February, and March.

REMINDER: GSP EXPIRES AT THE END OF 2017. Click here to learn about ways to take action and support GSP renewal this year.

Despite the slight overall decline, some states such as West Virginia and Nevada saw very large increases in GSP imports and savings compared to February 2016, as shown in the graphic below.

GSP saved West Virginia companies $91,000 in February, up $36,000 (65 percent) compared to one year earlier. Chemicals and mining tools from India and electrical conductors from Ecuador contributed most to West Virginia’s GSP increases.

GSP saved Nevada companies $330,000 in February, up $128,000 (63 percent) compared to one year earlier. Plastics accessories (e.g., wallets, glasses cases) from India, flourides (chemicals) from Thailand, and tungsten concentrates from Bolivia contributed most to Nevada’s GSP increases.

In addition to West Virginia and Nevada, companies in 10 other states saw GSP savings increase by at least 20 percent, including: Colorado, Connecticut, Delaware, Florida, Michigan, New Hampshire, New Mexico, Rhode Island, Virginia, and Wisconsin.

Savings on GSP imports from Kenya increased by 153 percent compared to February last year. New Jersey companies’ purchases of nuts were among the top GSP imports from Kenya. GSP eliminated about $265,000 in import taxes on gelatin in February, with about of those savings on imports from Iowa.

More monthly GSP import and savings highlights are on our Graphics page.

REMINDER: GSP expires at the end of 2017. Click here to learn about ways to take action and support GSP renewal this year.

Overall, the value of GSP imports and tariff savings both increased slightly compared to April 2015. Some states, such as South Carolina and New Hampshire, saw very large increases in GSP imports and savings compared to April 2015, as shown in the graphic below.

In South Carolina, GSP imports increased by 49 percent and savings from GSP by 48 percent compared to one year earlier. Plastics from Brazil, valves from Turkey, and motorcycles from Thailand contributed most to South Carolina’s GSP increases.

In New Hampshire, GSP imports increased by 317 percent and savings from GSP by 273 percent compared to one year earlier. Sporting goods from Thailand, optical devices from Sri Lanka and the Philippines, and parts for meters from India contributed most to New Hampshire’s GSP increases.

Imports from Bolivia jumped by 60 percent, led by increased imports of tungsten concentrates by companies in Nevada. GSP eliminated about $821,000 in import taxes on sugar and nearly 70 percent of those imports went to California.

Overall, GSP tariff savings increased increased by 1.6 percent compared to January 2015. The value of imports under GSP fell slightly (-1.8 percent), but not nearly as much as overall U.S. imports from the world (-6.1 percent). Some states, including Mississippi and Nevada, saw big increases in GSP imports and savings compared to January 2015, as shown in the graphic below.

In Mississippi, GSP imports increased by 66 percent and savings from GSP by 68 percent compared to one year earlier. Chemicals from India, electrical equipment from the Philippines, and PVC sheets and plates from Thailand contributed most to Mississippi’s GSP increases.

In Nevada, GSP imports increased by 52 percent and savings from GSP by 73 percent compared to one year earlier. Metal grinding balls from India, tungsten from Bolivia, and ceramic housewares from Thailand contributed most to Nevada’s GSP increases.

Imports from Ghana jumped by 380 percent, led by increased imports of cocoa powder by companies in Illinois. GSP eliminated more than $300,000 in import taxes on pencils and crayons. About two-thirds of those imports went to Pennsylvania.

Nevada companies imported an estimated $57.8 million under GSP in 2011, saving them on average 3.4%. Thailand was the most important source of GSP imports, accounting for about 21 percent of the tariff savings. Tungsten ores were Nevada’s top import under GSP in 2011 and would have faced average tariffs of 2.1% without GSP.

Yet GSP is set to expire on July 31, 2013, and companies could face tariffs higher tariffs starting on August 1 if Congress does not pass legislation renewing GSP. When GSP expired at the end of 2010, American companies paid nearly $2 million per day, every day, until Congress finally acted 11 months later!

This graphic shows just some of the negative impacts from the last GSP expiration. It also helps explain why more than 335 companies and associations – including at least 5 in Nevada – joined the 2011 GSP Supporter List urging renewal of the program when it last expired.

Are you a Nevada company that would be hurt by GSP expiration? If so, please take 30 seconds to let Congress know by adding your name to our free 2013 GSP Supporter List right now.