Tag Archives: tariffs

A State-By-State Breakdown of the $472 Million in GSP Tariffs Savings Through August 2016

In the first eight months of 2016, GSP saved American companies about $472 million in eliminated tariffs. Hawaii joined the list of states for which GSP eliminated at least $1 million in tariffs on imports, bringing the total to 38 … Continue reading

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GSP Saved American Companies $62 Million in August 2016

In August, the GSP program saved American companies $62 million on about $1.6 billion in imports. The value of GSP imports increased by about 5 percent, while tariff savings increased by about 11 percent compared to August 2015. Overall, GSP … Continue reading

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Year-to-Date GSP Savings By State through July 2016

In the first seven months of 2016, GSP saved American companies about $410 million in eliminated tariffs. New Hampshire joined the list of states for which GSP eliminated at least $1 million in tariffs on imports, bringing the total to … Continue reading

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It isn’t 1810

“It is an extremely arbitrary and outdated tariff. Our politicians need to realize we operate in a global economy now; it isn’t 1810.” That comment was provided by Alex Livingston, President of Summit Specialty International in Alpharetta, Georgia, in response … Continue reading

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GSP Renewal Allows Small Business to Hire 2 New Workers

Fab-Line Machinery, which has facilities in St. Charles, Illinois and Nashville, Tennessee, imports metal fabrication machinery from Turkey under GSP. The products, including hydraulic press breaks, hydraulic shears, and plasma cutting systems, are used by American manufacturers for domestic production. … Continue reading

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$1.31 Billion in Automatic GSP Refunds – Broken Down by State

Based on newly available July 2015 trade data, American companies paid about $1.3 billion in higher import taxes while GSP was expired between August 2013 to July 2015. With the retroactive GSP renewal, nearly all of that will be refunded … Continue reading

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GSP Renewal Immediately Benefiting Companies in the Carolinas

GSP has only been back in effect for a week, but we’re already hearing positive things from companies about the impacts. Take Thompson Traders in Greensboro, North Carolina, which manufactures and sells hand-hammered copper sinks for kitchens and baths. GSP … Continue reading

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