Based on data released today by the U.S. government, GSP expiration cost U.S. importers $56.5 million in September – about $20,000 more than it cost in August. In those first two months, that works out to about $1.85 million for each day that GSP was expired. Today is the 110th day since GSP expired, so...
Continue readingWith Congress returning to DC and companies beginning to feel the sting of expiration, more and more American organizations are calling for immediate renewal of the GSP program.The map below shows the 20+ companies and associations – based in 16 states – have joined the supporter list since GSP expired, including the seven new additions...
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 Texas companies an estimated $60.1 million in 2011. Texas companies imported an estimated $1.5 bi...
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