GSP saved American companies $102 million in April, an increase of over $18 million (22%) from April 2018 and the third-highest level on record. In the first four months of 2019, GSP saved American companies $385 million. That is $75 million more than the same period in 2018 – itself a record-shattering year. For the...
Continue readingNOTE: Updated in September 2020. Since May 2019, the United States has terminated GSP for India and Turkey, and partially suspended benefits for Thailand. Collectively, the decisions cost American companies up to $460 million between May 2019 and July 2020. We’re seeking updated info about lost GSP impacts to use while speaking with Congressi...
Continue readingThis week, India officially lost it GSP benefits. Combined with the Turkey GSP decision from mid-May, companies must now pay an extra $1 million a day in new taxes despite Congress’ explicit authorization to make those imports duty-free. This week, there also were two subpar jobs reports. BLS reported just 75,000 new nonfarm payroll jobs,...
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