Based 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 readingNew data show that imports from China increased 62x more than GSP imports in the first half of 2021. Triad Magnetics in Perris, California helps explain the trend: GSP expiration has already cost the company $200,000 in extra tariffs, leading to reduced orders from the Philippines and increased orders from China. Triad Magnetics manufactures transf...
Continue readingAltus Brands, LLC is a small, 12-employee company in Grawn, Michigan – near Traverse City and Michigan’s “Little Finger” – that imports leather bags from the Philippines. It is among the many companies in the United States and around the world that needs Congress to renew GSP and refund tariffs paid immediately. GSP be...
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