olive oil – Renew GSP Today https://renewgsptoday.com A resource from the Coalition for GSP Mon, 03 Apr 2017 19:44:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://renewgsptoday.com/wp-content/uploads/2017/04/cropped-CoalitionForGSP-Logo-ICO-32x32.png olive oil – Renew GSP Today https://renewgsptoday.com 32 32 GSP Saved American Companies $62 million in December 2016 https://renewgsptoday.com/2017/02/22/gsp-saved-american-companies-62-million-in-december-2016/ Wed, 22 Feb 2017 16:16:35 +0000 http://renewgsp.wpengine.com/?p=7820 In December 2016, the GSP program saved American companies $62 million on about $1.6 billion in imports. GSP imports were up by 11 percent – and tariffs savings up by 14 percent – compared to December 2015. Overall, GSP saved U.S. companies $729 million in 2016, an increase of over 10 percent from 2015.

Some states, such as Alabama and Ohio, saw particularly large increases in GSP imports and savings compared to December 2015, as shown in the graphic below.

GSP saved Alabama companies $451,000 in December, up $147,000 (48 percent) compared to one year earlier. Silicone from South Africa, PET resin from Brazil, and tungsten ores from Bolivia were among the products contributing most to Alabama’s GSP increases.

GSP saved Ohio companies $2.7 million in December, up $459,000 (21 percent) compared to one year earlier. Ferrochromium from Turkey, machining centers from Brazil, and pesticides from India contributed most to Ohio’s GSP increases.

In addition to Alabama and Ohio, companies in 18 other states saw GSP savings increase by at least 20 percent, including: Alaska, Arkansas, Connecticut, Delaware, Indiana, Iowa, Kansas, Louisiana, Maine, Mississippi, New Hampshire, New Mexico, New York, North Dakota, Oregon, Pennsylvania, Rhode Island, and Texas.

Savings on GSP imports from Egypt increased by 11 percent compared to one year earlier. New York’s purchases of olive oil were among the top GSP imports from Egypt. GSP eliminated nearly $900,000 in import taxes on mangoes and guavas in December, with California accounting for more than a quarter of those savings.

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

]]> GSP Saved American Companies $62 Million in March 2016 https://renewgsptoday.com/2016/05/19/gsp-saved-american-companies-62-million-in-march-2016/ Thu, 19 May 2016 18:00:53 +0000 http://renewgsp.wpengine.com/?p=7033 In March, the GSP program saved American companies nearly $62 million on about $1.6 billion in imports. The GSP program saved U.S. companies $170 million in the first three months of 2016.

Overall, GSP tariff savings increased increased by 8 percent compared to March 2015. The value of imports under GSP increased 6 percent. Some states, such as Iowa and Missouri, saw ever bigger increases in GSP imports and savings compared to March 2015, as shown in the graphic below.

GSP_Mar2016_Snapshot

 

 

In Iowa, GSP imports increased by 152 percent and savings from GSP by 304 percent compared to one year earlier. Chemicals from India and gelatin from Brazil contributed most to Iowa’s GSP increases. In Missouri, GSP imports increased by 48 percent and savings from GSP by 17 percent compared to one year earlier. Engines from South Africa, auto parts from Turkey, and chemicals from India contributed most to Missouri’s GSP increases.

Imports from Kazakhstan jumped by 238 percent, led by increased imports of ferrochromium by companies in Ohio. GSP eliminated about $108,000 in import taxes on olive oil and nearly half of those imports went to New Jersey.

]]>