On Monday, President Donald J. Trump declared July 16-22 to be “Made in America” week and held an event at the White House highlighting American-made products. Yet such events often overlook the benefits of imports, including programs such as GSP, in creating those American-made products. Take BTR International, a small business in New ...
Continue readingFab-Line Machinery in Nashville supplies metalworking equipment (e.g., press brakes and shears) to American manufacturers. With average machine costs of nearly $150,000, GSP eliminates about $7,500 per machine imported by Fab-Line from Turkey. When GSP expired in 2013, Fab-Line was forced to raise prices to compensate for those new import taxes. Ul...
Continue readingThe potential GSP expiration is 7 months away, but companies are already in a very tough spot. 2018 pricing and sourcing decisions must be made now (or soon), but companies can’t know whether their imports will remain duty-free. Congress’ tendency to wait until the last minute to act, or retroactively after the fact, doesn’t help....
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