Based on new August trade data released by the US government, we can finally see the cost of Congress’ inability to renew GSP before July 31…and it’s not pretty. GSP should have eliminated about $56.5 million in taxes on about $1.6 billion in imports in August alone. Instead of having that money on hand to...
Continue readingWhile all responses to our August/September expiration survey are appreciated, we love the submissions that allow us to quote them directly. The following comment comes from Candace Abitbul at Sophia Foods in Brooklyn, New York. This family-owned (very) small business paid $3,700 in extra import taxes in August and expects to pay another $7,00...
Continue readingWith Congress returning to DC and companies beginning to feel the sting of expiration, more and more American organizations are calling for immediate renewal of the GSP program.The map below shows the 20+ companies and associations – based in 16 states – have joined the supporter list since GSP expired, including the seven new additions...
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