In late April, the United States suspended duty-free treatment for about 1/3 of Thailand’s imports under GSP. Lost GSP for Thailand cost importers up to $17 million in extra taxes from May to July; another burden for American GSP importers hurt by the Covid-19 pandemic and recession. New data suggests cloth face masks are the...
Continue readingEvidence continues to grow that the nearly year-long trade war is pushing companies to source more from GSP countries such as India, Thailand, Cambodia, Indonesia, and Turkey. The May 10 increase in tariffs on $200 billion in imports from China – and announcement that new tariffs on the remaining $300 billion in imports could come...
Continue readingAfter 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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