According to new research from the Coalition for GSP, the Generalized System of Preferences (GSP) program saved American companies $1.035 billion in 2019. Total imports under GSP were nearly $21 billion. While imports under GSP were down from 2018, savings were about the same, as the average tariff waived jumped to 5.0% in 2019 from...
Continue readingGSP saved American companies $894 million in 2017, an increase of nearly $30 million from past estimates. The new estimates are based on revisions and updates from the U.S. Census Bureau published in June and August, and details on some of the increases are below. Even before upward revisions, U.S. companies’ tax benefits from GSP...
Continue readingRoyal Chain Group is a family-owned importer and distributor of fine jewelry. Based in New York City, it supplies jewelry to retailers throughout the United States. Royal Chain imports gold and silver jewelry from Indonesia, Thailand, and Turkey under GSP. While GSP was expired, Royal Chain paid more than $2 million in new tariffs. It...
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