As we noted last Friday, GSP expiration cost another $54 million in November. In total, expiration increased import taxes by more than $228 million from August to November, raising prices for companies in every state. Just how much varies greatly by state, as shown below. California companies paid an estimated $34 million in new import...
Continue readingBig trade news out of Washington yesterday: data released showed that $1.4 billion in GSP-eligible goods were imported in November. Unfortunately, since GSP was expired, American companies paid an extra $53.7 million in taxes. Most of the companies paying those taxes are small businesses that can least afford them. Nearly 80 percent of companies on...
Continue readingWe hope everyone has a happy and safe holiday season. Of course, just because it’s Christmas doesn’t mean people aren’t still thinking about GSP. One company – Plastics Provider Inc. in Conway, South Carolina – even added its name to the GSP Supporter List this morning! Hopefully Congress will stop being grinches and r...
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