GSP and Texas: Fast Facts

The 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 Texas companies an estimated $60.1 million in 2011. Texas companies imported an estimated $1.5 bi...