Yesterday, the National Association of Manufacturers (NAM) wrote about the negative impact of GSP expiration on…not surprisingly…manufacturers. At the most basic level, because of GSP expiration “many manufacturers’ costs are higher and their competitiveness undermined.” This of course is a point we’ve made a n...
Continue readingAs we noted yesterday, GSP expiration cost American companies $62 million in October. California companies paid an estimated $9.1 million, but more than a third of states faced an extra million dollars in import taxes because GSP remained expired. Taxes paid by companies in both Indiana and Virginia jumped more than 30% from September to...
Continue readingAs noted yesterday, GSP expiration cost American companies more than $56 million in September alone, and more than $110 million through the first two months. Not surprisingly, big states pay the most, but companies in all states are stuck paying higher taxes on previously duty-free goods. Here are the top 10 states ranked by the...
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