On November 14, more than 350 American companies and associations sent a letter to leaders of the House Ways and Means and Senate Finance Committees urging extension of the GSP program. GSP’s current authorization expires on December 31, and companies will be forced to pay over $2 million per day in extra taxes if Congress...
Continue readingIf Congress fails to pass legislation renewing GSP in the next 2 months, benefits will lapse and import taxes will go up. It is now past the point where basically all GSP importers are placing orders for 2018, so we created a new survey to collect information about how the uncertainty is impacting decisions today....
Continue readingHigh GSP savings levels continued in September: GSP saved American companies $72 million on about $1.7 billion in imports. GSP imports were up by 15 percent – and tariffs savings were up by 19 percent – compared to September 2016. Year-to-date savings from GSP are up $83 million, or about $9.3 million per month, over...
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