Based on new data released Friday, the continued expiration of the GSP program cost U.S. importers $62 million in October, bringing the total cost to more than $175 million in the first three months. Of course, it’s now December 9 so the actual taxes paid are much higher. American companies paid the highest taxes on...
Continue readingThis comes from a recent GSP supporter list company that imports from India, Indonesia, and Nepal: We are a company located in a small town where the economy is fragile and the rate of unemployment is very high. If we have to pay duties for merchandise under GSP we don’t know if we will be...
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...
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