As noted yesterday, GSP expiration cost American companies more than $56 million in September alone, and more than $110 million through the first two months. Not surprisingly, big states pay the most, but companies in all states are stuck paying higher taxes on previously duty-free goods. Here are the top 10 states ranked by the...
Continue readingBased on data released today by the U.S. government, GSP expiration cost U.S. importers $56.5 million in September – about $20,000 more than it cost in August. In those first two months, that works out to about $1.85 million for each day that GSP was expired. Today is the 110th day since GSP expired, so...
Continue readingThe other day, we highlighted a comment on the impacts of GSP expiration made by a small manufacturer with operations in both Ohio and Texas. Today, we wanted to share the thoughts of a small business owner in the Cincinnati area: We may be a very small company in comparison to other companies that also...
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