Based on data released last week, continued GSP expiration cost American importers another $41 million in February 2015. Despite a significant drop from typical monthly levels (likely on account of the West Coast Port slowdown), it was the most expensive month yet for companies in Iowa in terms of tariffs paid because of GSP expiration....
Continue readingBased 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 readingAccording to new data released last week, American companies “claimed” GSP for about $1.45 billion worth of imported products in February. Typically, those products would not face import tariffs because of GSP, whereas those same products imported from a non-GSP country like China would face $48.2 million in import taxes. Since Congress...
Continue reading