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 readingYesterday, the National Association of Manufacturers (NAM) wrote about the negative impact of GSP expiration on…not surprisingly…manufacturers. At the most basic level, because of GSP expiration “many manufacturers’ costs are higher and their competitiveness undermined.” This of course is a point we’ve made a n...
Continue readingAs we noted yesterday, GSP expiration cost American companies $62 million in October. California companies paid an estimated $9.1 million, but more than a third of states faced an extra million dollars in import taxes because GSP remained expired. Taxes paid by companies in both Indiana and Virginia jumped more than 30% from September to...
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