New trade data for January came out yesterday and the numbers aren’t pretty: American companies paid $77 million in extra taxes because Congress failed to renew GSP last year. By comparison, the most tariffs paid in a single month during the last 2-year expiration was “just” $61 million. So the stakes for a swift, retroactive...
Continue readingLast week, the House passed GSP renewal legislation by a vote of 400-2. Though Senate procedural rules make a stand-alone vote in the Senate unlikely, the expected result would be similar. (The last Senate vote was 97-1.) Despite overwhelming support in the House and Senate – and Administration support for a 3-year renewal – American...
Continue readingEarlier this week we heard from Custom Direct, Inc., yet another supporter list company urging Congress to pass a swift, retroactive GSP renewal. (Use these links to see the full list or add your organization.) Based in Plano, Texas, Custom Direct is a US supplier of luggage, bags and cases with 10 employees. The company works...
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