Based on new data released Friday, the continued expiration of the GSP program cost U.S. importers $62 million in October, bringing the total cost to more than $175 million in the first three months. Of course, it’s now December 9 so the actual taxes paid are much higher. American companies paid the highest taxes on...
Continue readingLast Friday, Politico had an article about the (really) do-nothing Congress. According to the article: “So far, this Congress has only enacted 49 laws, the fewest since at least 1947, when the Congressional Record began tallying legislative activity on a yearly basis. In fact, the 80th Congress — famously dubbed the “do nothing&rd...
Continue readingAs is so often the case, those closest to the situation can describe it the best. A retailer stuck paying GSP tariffs on shipments coming in for the holiday season emailed us the following: “Assuming the GSP will eventually pass and be retroactive, we are bearing the higher costs during our busiest season, and will...
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