It’s been more than 8 years since GSP last expired. Why this year? GSP renewal frequently waits until (literally) the end of the legislative session, but Congress has been successful at striking a last minute deal to ensure continued benefits, as it did in 2006, 2008, and 2009. What happened this year? In summary, one...
Continue readingThe other day, I received a call out of the blue. The person on the other end of the line had heard from their customs broker that prices were going up because GSP expired. They did some google searches and came across my number. We chatted for a bit and I learned that the company,...
Continue readingOn December 31, 2010, the Generalized System of Preferences (GSP) program expired. For the first time in more than 8 years, US companies that imported eligible products from GSP countries had to pay tariffs on every shipment that entered the United States. American companies will continue to pay these new costs – approximately $2 millio...
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