GSP Expiration Cost (Another) $58 Million in May

The trade data released by the Department of Commerce this afternoon showed that American companies paid an estimated $58.3 million in new taxes on $1.5 billion worth of previously GSP-eligible imports in May.  Through the first 5 months of the year, U.S. businesses paid $276 million in tariffs on $7.3 billion worth of imports.

Each day GSP remains expired costs American companies nearly $2 million.  If you’re contacting your Congressmen using our email you senators and email your representatives pages, make sure they know not only these national numbers, but the tariffs paid by your company as well.

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