GSP loss and weak jobs reports

Written on June 7, 2019 in USA

This week, India officially lost it GSP benefits. Combined with the Turkey GSP decision from mid-May, companies must now pay an extra $1 million a day in new taxes despite Congress’ explicit authorization to make those imports duty-free. This week, there also were two subpar jobs reports. BLS reported just 75,000 new nonfarm payroll jobs,...

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President terminates GSP for India

Written on June 1, 2019 in USA

(WASHINGTON) – Coalition for GSP Executive Director Dan Anthony released the following statement this evening after President Trump signed the proclamation ending Generalized System of Preferences (GSP) eligibility for India. For detailed information on how this action will hurt U.S. businesses and workers visit HERE.  &ld...

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President Trump terminates GSP for Turkey

Written on May 17, 2019 in California

Last night, President Trump signed a presidential proclamation terminating GSP for Turkey. The decision took effect immediately (May 17), following the March 4 notification of intent to terminate after at least 60 days. That 60-day minimum period ends on May 4. “We know who this will hurt – small but growing American businesses that dep...

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How canceling GSP for India would benefit China

Written on May 6, 2019 in China

A key finding of the recent report on GSP termination impacts was that over 30% of companies would look to source more from China if GSP benefits went away. That was about the same share of companies reporting they would source more from any of the approximately 120 remaining GSP countries, and much higher than...

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A $330 million tax hike? American businesses need an extension.

Written on April 15, 2019 in USA

Tariffs are just another kind of tax. As many Americans scramble to finish up their taxes – and learn whether they’re due a refund (or something less pleasant) – there is another group of Americans for which May 4 may be a more important deadline: small businesses importing under GSP. These companies need an extension....

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Over 430 American Businesses and Associations Urge Congressional Leaders to Support Delay of GSP Withdrawal Citing Impact to their Businesses and Employees

Written on April 4, 2019 in USA

After Congress voted nearly unanimously to renew GSP last year, American small businesses ask Congress to examine whether kicking countries that provide a third of the duty-free benefits out of the program reflects Congressional intent American businesses: “By lowering tariffs for American companies that import under GSP, it supports jobs and...

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