This comes from a recent GSP supporter list company that imports from India, Indonesia, and Nepal: We are a company located in a small town where the economy is fragile and the rate of unemployment is very high. If we have to pay duties for merchandise under GSP we don’t know if we will be...
Continue readingAs noted yesterday, GSP expiration cost American companies more than $56 million in September alone, and more than $110 million through the first two months. Not surprisingly, big states pay the most, but companies in all states are stuck paying higher taxes on previously duty-free goods. Here are the top 10 states ranked by the...
Continue readingBased 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...
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