Some people might think that GSP’s relatively low share of total U.S. imports means it doesn’t have a big impact. However, for the products covered by GSP – and the American companies buying those products – its importance cannot be overstated. There were approximately 10,600 country-product combinations imported under...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Washington companies an estimated $8.1 million in 2011. Washington companies imported an estimate...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Louisiana companies an estimated $7.9 million in 2011. Louisiana companies imported an estimated ...
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