According to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $88 million in March 2021. Congressional authorization for GSP expired on December 31, 2020. March was the most expensive month yet of GSP expiration: the $88 million in extra tariffs paid far...
Continue readingThis week we heard from two small businesses impacted by GSP expiration – Sugarpod LLC in Hillsboro, Oregon and Inplac in Charlotte, North Carolina – that reported paying $24,959.85 and $30,172.01 so far because of GSP expiration. Not $25,000 and $30,000, or even $24,960 and $30,172, but $24,959.85 and $30,172.01. Because every penny of...
Continue readingIn the 4 months of 2017, GSP saved American companies $256 million in eliminated tariffs. Year-to-date savings crossed the $1 million threshold for 4 states, including Colorado, Mississippi, New Hampshire, and Oregon. In total, GSP savings through April exceeded $1 million for 32 states plus Puerto Rico. The map below shows the overall value of...
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