Woombikes USA in Austin, Texas is among the many companies harmed by GSP expiration. According to Woombikes’ response to our new survey on GSP and inflation, the company has paid over $1.9 million in extra tariffs due to GSP expiration on children’s bikes, spare parts, and accessories. Children’s bikes face 11% tariffs without GSP...
Continue readingBased on an analysis of new U.S. Census Bureau data released last week, American companies paid at least $1.05 billion in extra tariffs on $18.7 billion in imports due to GSP expiration last year. Here are some of the highlights (or really, lowlights): Top 5 states by tariffs paid due to expiration: California ($287 million),...
Continue readingThe longer GSP remains expired, the more permanent the damage. While Congress seems to view “retroactive” legislation as good enough, companies – especially small businesses – don’t have the same luxury. Instead, they face very real and action-forcing deadlines that can be as simple as a lease renewal. The “tempo...
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