Based on data released last week, continued GSP expiration cost American importers another $55 million in November 2014. For New Mexico, November 2014 was the most costly month yet in terms of unnecessary taxes paid because of GSP expiration, driven largely by above average imports of jewelry from the Philippines and Turkey. From August 2013...
Continue readingWe frequently note that each day of GSP expiration costs American importers nearly $2 million in additional taxes. We also highlight the diverse GSP importers that are on the supporter list. But we don’t know how many other GSP importers might be paying those taxes on any given day. So we decided to conduct an...
Continue readingAs 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...
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