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GSP Renewals Impacts $1.3 Billion in Refunds

September 8, 2016

refundsStatistical data reports that renewals of GSP reflected refunds in the amount of $1.3 billion dollars. 

GSP has also waived about $580 million in additional import taxes from August 2015 to May 2016.  Assuming average savings in June and July, GSP renewal meant an extra $2 billion at the disposal of American companies over the past year. The numbers are impressive but individual company stories show the vital importance of the GSP program to American companies and workers even better.

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