“We have delayed hiring 4 employees due to the expiration of the GSP. Also, our company was planning on investing in a warehouse expansion – about a $300,000 capital expenditure – that has now been cancelled.” The above quote came from a California-based importer of specialty foods from Indonesia. On top of $50,000 in tariff...
Continue readingXpres LLC imports ceramic drink ware products (e.g., coffee mugs) from Thailand under GSP and then provides custom imprinting at its factory in Winston Salem, North Carolina. As a result of GSP expiration, this small manufacturer has paid more than $280,000 in higher taxes – or nearly $10,000 per employee! The high import taxes, combine...
Continue readingWe frequently note that each day of GSP expiration costs American importers nearly $2 million in additional taxes. We also highlight the diverse GSP importers that are on the supporter list. But we don’t know how many other GSP importers might be paying those taxes on any given day. So we decided to conduct an...
Continue reading