Breakdown by State of the $600 Million in 2016 Tax Savings from GSP Through October

In the first 10 months of 2016, GSP saved American companies about $600 million in eliminated tariffs. GSP waived at least $1 million in tariffs on imports into 39 states – West Virginia joined the list in October! – plus Puerto Rico.

The map below shows the overall GSP imports and savings by state from January to October.

gsp_savings_map_jan-oct2016

Companies in California continued to lead the way with $97 million in tax savings. Imports into New Jersey, Texas, and New York all faced $45-$55 million less in taxes because of GSP, while imports into Florida, Illinois, Georgia and Ohio all faced at least $25 million less in taxes because of GSP.

This map will be updated monthly as new trade data become available and the most up-to-date version will be available at all times on our Graphics page. These posts highlight some of the individual states, products, and countries with the biggest increases in January, February, March, April, May, June, July, August, September, and October.

If your company benefits from GSP renewal, be sure to answer our renewal impact survey here. You can see examples from companies that already answered the survey here, here, here, and here.

REMINDER FOR ALL GSP PROGRAM USERS: GSP EXPIRES AT THE END OF 2017. Please click that link to learn about how to get involved in the Coalition for GSP’s renewal activities this year.

This entry was posted in California, Florida, Georgia, Illinois, New Jersey, New York, Ohio, Texas. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s