“After careful consideration Sun National Bank has decided not to renew the above referenced $600,000 line of credit.” That one sentence, from a bank letter (right) forwarded by a GSP importer, immediately raises concerns about the future viability of the business. The reason for the bank’s decision? The company could not pay the ...
Continue readingBased on data released last week, continued GSP expiration cost American importers another $54 million in January 2015. For both Arizona and West Virginia, it was the most costly month to date in terms of tariffs paid to date. The cost of tariffs paid because of expiration exceeded $1 billion in January. At $150 million...
Continue readingToday, the Coalition for GSP released updated reports for on why GSP matters for all 50 states. For each state, the reports highlight: total GSP imports and tariffs paid on account of GSP expiration in 2014; companies importing GSP-eligible products; top GSP imports by product type, and top source countries by both value of imports...
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