This year we rolled out stocking programs to three of our biggest customers and initiated a program to attempt to create a domestic manufacturing facility. This would not have happened without the renewal of the GSP.
Clifford Thompson, President
Thompson Traders is a family business founded by the Thompson Family. The company aims to provide hand-crafted, luxury sinks and tubs at affordable prices, and GSP is vital to meeting that goal.
When GSP expired in August 2013, Thompson Traders just had reached positive cash flow. Yet the new tariffs forced Thompson Traders to lay off 8 of its 20 workers – 40 percent of its total – and delay new investments.
With GSP reinstated, the company reinvested all of the refunds back into the business. After rolling out stocking programs with three of its biggest customers and initiating a program to try to manufacture in the US, Thompson Traders now has 25 employees – double the low hit during GSP expiration.