While all focus right now is on the need for Congress to renew GSP before December 31, the harm done by Administrative actions to American companies since GSP was last renewed in 2018 cannot be overstated. Since the last Congressional GSP reauthorization, American companies have paid up to $500 million in extra tariffs due to...
Continue readingVtronix in Miami Gardens, Florida provides custom-designed, UL-approved control panels to small- and medium-sized American manufacturers of air conditioning and heating equipment. It has 5 employees and several contract warehouse workers in Florida. GSP eliminates $25,000 to $30,000 in tariffs annually on panels designed in the United States and ma...
Continue readingAt yesterday’s House Ways and Means Trade Subcommittee hearing on Caribbean Basin preferences (i.e., CBTPA), several Members used the opportunity to support swift GSP renewal as well. CBTPA expires on September 30. In his opening statement, Ranking Member Vern Buchanan (R-FL) cited Coalition for GSP data, saying “Americans saved more th...
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