We have heard from some folks in Congress that passing a retroactive GSP renewal may become harder as time goes on. Whenever GSP has expired, we’ve said that refunds of tariffs paid to date is the #1 priority for importing companies. What do you think? Let us know by filling out the form below. Results...
Continue readingBased on new August trade data released by the US government, we can finally see the cost of Congress’ inability to renew GSP before July 31…and it’s not pretty. GSP should have eliminated about $56.5 million in taxes on about $1.6 billion in imports in August alone. Instead of having that money on hand to...
Continue readingWith the government shutdown and debt ceiling debate behind us (for at least a couple months), Congress needs to turn its attention back to another outstanding issue: the renewal of the GSP trade program. GSP has now been expired for 82 days. When GSP expired in 2011, American companies paid an estimated $2 million per...
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