Summit Specialty International in Alpharetta, Georgia imports pine interior doors from Brazil that are used for new residential construction. A small company with annual sales of approximately $3 million, the cost of GSP expiration is about 3 percent of annual revenue and has had a tangible impact on the company’s bottom line. According to ow...
Continue readingXpres LLC imports ceramic drink ware products (e.g., coffee mugs) from Thailand under GSP and then provides custom imprinting at its factory in Winston Salem, North Carolina. As a result of GSP expiration, this small manufacturer has paid more than $280,000 in higher taxes – or nearly $10,000 per employee! The high import taxes, combine...
Continue reading“We could not buy new equipment and computers. We have been eating the bulk of the costs ourselves because we can not pass them on to clients. Our cost of capital financing costs have risen tremendously with our bank, and the GSP expiration has DEFINITELY impacted our bottom line. The viability of our 25 year...
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