Overall, the value of GSP imports and tariff savings both increased slightly compared to April 2015. Some states, such as South Carolina and New Hampshire, saw very large increases in GSP imports and savings compared to April 2015, as shown in the graphic below.

In South Carolina, GSP imports increased by 49 percent and savings from GSP by 48 percent compared to one year earlier. Plastics from Brazil, valves from Turkey, and motorcycles from Thailand contributed most to South Carolina’s GSP increases.

In New Hampshire, GSP imports increased by 317 percent and savings from GSP by 273 percent compared to one year earlier. Sporting goods from Thailand, optical devices from Sri Lanka and the Philippines, and parts for meters from India contributed most to New Hampshire’s GSP increases.

Imports from Bolivia jumped by 60 percent, led by increased imports of tungsten concentrates by companies in Nevada. GSP eliminated about $821,000 in import taxes on sugar and nearly 70 percent of those imports went to California.

Nevada companies imported an estimated $57.8 million under GSP in 2011, saving them on average 3.4%. Thailand was the most important source of GSP imports, accounting for about 21 percent of the tariff savings. Tungsten ores were Nevada’s top import under GSP in 2011 and would have faced average tariffs of 2.1% without GSP.

Yet GSP is set to expire on July 31, 2013, and companies could face tariffs higher tariffs starting on August 1 if Congress does not pass legislation renewing GSP. When GSP expired at the end of 2010, American companies paid nearly $2 million per day, every day, until Congress finally acted 11 months later!

This graphic shows just some of the negative impacts from the last GSP expiration. It also helps explain why more than 335 companies and associations – including at least 5 in Nevada – joined the 2011 GSP Supporter List urging renewal of the program when it last expired.

Are you a Nevada company that would be hurt by GSP expiration? If so, please take 30 seconds to let Congress know by adding your name to our free 2013 GSP Supporter List right now.