Fab-Line Machinery, which has facilities in St. Charles, Illinois and Nashville, Tennessee, imports metal fabrication machinery from Turkey under GSP. The products, including hydraulic press breaks, hydraulic shears, and plasma cutting systems, are used by American manufacturers for domestic production. Based on its response to our new GSP renewal ...
Continue readingAfter a nearly 2-year expiration, Congress retroactively renewed GSP in June. During the expiration, some of the most powerful arguments for GSP renewal came from two surveys highlighting company-specific impacts (reports here and here). To start building the case now for GSP extension beyond 2017, we must show the positive impacts of GSP renewal a...
Continue readingBased on newly available July 2015 trade data, American companies paid about $1.3 billion in higher import taxes while GSP was expired between August 2013 to July 2015. With the retroactive GSP renewal, nearly all of that will be refunded automatically. The map below shows the breakdown of GSP tariffs paid during expiration that are...
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