With Wednesday’s expiration of the GSP program and the upcoming recess ensuring at least six weeks of higher taxes – and possibly much longer – there is lots of frustration among GSP importers. But we’re not alone. New U.S. Trade Representative Mike Froman released a statement saying: “The Obama Administration urges Co...
Continue readingThis morning, the Coalition for GSP put out a press release on yesterday’s expiration of the GSP program. As noted by Executive Director Laura Baughman: “GSP’s expiration will be a financial blow for thousands of American companies that rely on the tariff savings to remain globally competitive. While expiration will be a cost...
Continue readingDespite the best efforts of staff to reach a last-minute compromise, Senator Coburn will not release his hold on the GSP renewal bill. As such, GSP will expire tonight and companies will start paying an estimated $2 million per day in new import taxes. Since Congress adjourns on Friday and doesn’t come back until after...
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