EVCO International is a small business in Manalapan, New Jersey that imports marble kitchenware and bath accessories from Indonesia and India and kettles from Thailand. When GSP expired and EVCO tried to raises prices, sales fell. Higher costs impacted both EVCO’s US sales and its exports from New Jersey to South America, Europe, Canada. As.....
Continue readingIn June, the GSP program saved American companies $61 million on about $1.5 billion in imports. GSP saved U.S. companies $353 million in the first half of 2016, more than any year since 2012. Overall, the value of GSP imports increased by 9 percent and the value of GSP tariff savings increased by 14 percent...
Continue readingIn the first four months of 2016, GSP saved American companies about $230 million in eliminated tariffs. The map below shows the overall GSP imports and savings by state from January to April. Companies in California continued to lead the way with $36 million in tax savings, followed by companies in New Jersey with $20...
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