Yesterday, the National Association of Manufacturers (NAM) wrote about the negative impact of GSP expiration on…not surprisingly…manufacturers. At the most basic level, because of GSP expiration “many manufacturers’ costs are higher and their competitiveness undermined.” This of course is a point we’ve made a n...
Continue readingThis morning, we added our newest company to the GSP Supporter List: Ferndale, Washington-based Kona Bicycle Company. Located in 1st Congressional District, the 27-employee company imports from Cambodia under GSP. Kona isn’t the only new company calling on Congress to renew GSP before it expires on July 31. Other new additions include: ...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved West Virginia companies an estimated $630,000 in 2011. West Virginia companies imported an estima...
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