Over the last month, the United States terminated GSP for India and Turkey. Together, the decisions mean companies must now pay an extra $1 million a day in new taxes. Although the tariffs just took effect, a number of companies already have told us about negative impacts:
- a food importer delaying plans to open two US manufacturing plants
- a small manufacturer canceling a building expansion expected to increase employment by 25%
- a distributor canceling plans to expand their product into 700 new stores by the end of 2019 (and jobs associated with that plan)
- an accessories company delaying plans for a new distribution center
- a chemicals distributor instituting across-the-board price hikes for its customers (American manufacturers)
Members of Congress must hear from constituents about the damage from GSP decisions. We created a new survey form that companies can use to report impacts. It will be circulated once every few weeks since the decisions are so recent and impacts likely will grow over time.
As always, no company-specific information will be published without explicit permission. Do not hesitate to email or call 202-347-1041 with any questions.