“After careful consideration Sun National Bank has decided not to renew the above referenced $600,000 line of credit.” That one sentence, from a bank letter (right) forwarded by a GSP importer, immediately raises concerns about the future viability of the business. The reason for the bank’s decision? The company could not pay the ...
Continue readingBased on data released last week, continued GSP expiration cost American importers another $54 million in January 2015. For both Arizona and West Virginia, it was the most costly month to date in terms of tariffs paid to date. The cost of tariffs paid because of expiration exceeded $1 billion in January. At $150 million...
Continue readingIt’s a snowy day in Washington. The Federal Government is closed. The House and Senate both agreed to wrap up work early and flee DC before the snow hit (the House won’t return until March 16). So it seems appropriate to highlight the snowball effects of continued GSP expiration. The following comes from an email...
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