As noted on Monday, the US government recently released 2012 trade data showing that imports under GSP rose to $19.9 billion last year. Based on an analysis of that data, the GSP program saved American companies an estimated $748.7 million in 2012, a $40+ million increase over 2011. By county, the highest savings came on...
Continue readingLast Friday, the U.S. government released the full-year trade data for 2012 showing that GSP imports reached $19.9 billion. This represents an increase of more than $1.3 billion, or about 7 percent, and is a significant jump considering the loss of GSP benefits for former top-10 suppliers Argentina (kicked out) and Colombia (GSP replace...
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...
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