Based on data released last week, continued GSP expiration cost American importers another $55 million in November 2014. For New Mexico, November 2014 was the most costly month yet in terms of unnecessary taxes paid because of GSP expiration, driven largely by above average imports of jewelry from the Philippines and Turkey. From August 2013...
Continue readingOn Friday we wrote about these being very tough times for many GSP importers. As we compile responses from our most recent survey, it’s painful to read about how lives have been hurt by GSP expiration. And why? At the most basic level, these people are suffering for two reasons: *only* 99 percent of Senators...
Continue readingWe continue to receive responses to our survey on the impacts of GSP expiration after 1 year. To be blunt, they are not pretty. Here are a couple responses we heard this morning: One small business in Illinois laid off a worker yesterday. They have also delayed two hires, so instead of 12 employees they...
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