With the calendaring turning to June, GSP expiration now enters its 18th month, the 2nd longest lapse in history. GSP has often expired and been renewed retroactively, but Congress usually acts within 6 months. That Congress would allow GSP to remain expired for so long during a global pandemic, skyrocketing shipping costs, and spiking inflation...
Continue readingAs Congress officially kicks off the House-Senate Conference negotiations on a China competition bill, a bipartisan group of 54 House Members sent a letter to Congressional leaders urging inclusion of the CNL Update Act (HR 6171) provisions in the final bill. Representatives Stephanie Murphy (D-FL) and Jackie Walorski (R-IN), the lead sponsors of t...
Continue readingBased on an analysis of new U.S. Census Bureau data, American companies paid at $113 million in tariffs on product claiming GSP in March due to GSP expiration – the highest level ever despite the fact that March is generally not a big import month. The $300 million in tariffs paid in Q1 2022 due...
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