GSP Program Saved Importers $879 Million Last Year, Trade Group Says

The Coalition for GSP, which argues for renewal of the Generalized System of Preferences benefits program, recently published an estimate that importers saved $879 million utilizing the GSP program in 2020. That covered $17 billion in imports. The group said that imports and savings were down from 2019 due to participating country terminations and the COVID-19 pandemic.