This morning, we added our newest company to the GSP Supporter List: Ferndale, Washington-based Kona Bicycle Company. Located in 1st Congressional District, the 27-employee company imports from Cambodia under GSP. Kona isn’t the only new company calling on Congress to renew GSP before it expires on July 31. Other new additions include: ...
Continue readingThe Generalized System of Preferences (GSP) program eliminates U.S. tariffs (i.e., taxes) on certain imports from developing countries. GSP imports in 2011 totaled $18.5 billion and the program saved American companies more than $700 million. GSP saved Illinois companies an estimated $37.9 million in 2011. Illinois companies imported an estimated $...
Continue readingOver the weekend, the Administration announced the results of the 2011 GSP Annual Review. You can read the Presidential Proclamation here or, if you’d prefer the non-legalese version, here’s a list from USTR that clearly states the decision for each product. Although it’s gotten little press, the statistics are quite strikin...
Continue reading