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 Virginia companies an estimated $11.1 million in 2011. Virginia companies imported an estimated $...
Continue readingThe fifth installment in a our “American Faces of GSP Expiration” series. This Tennessee-based company, with additional manufacturing facilities in New York, Virginia, and West Virginia, has already laid off 5 workers because of GSP expiration. If GSP is not renewed soon, it may have an even greater impact on the ability of ...
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