A simple statement from a GSP importer that shows why GSP reauthorization must be a part of any “China competition bill” like the one that House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer hope to pass in July. Yet with the clock ticking until August recess – and then November elections – there...
Continue readingOne of the first responses to our new survey on GSP and inflation came from Bueno of California in Fullerton, CA, which imports handbags, wallets, travel accessories, totes, and backpacks. The 20-person company has paid nearly $2 million in extra tariffs due to GSP expiration. “We are getting killed between increases in factory prices, add-on...
Continue readingLast week we wrote about two-way links between GSP and inflation. We believe global inflation may be raising the cost of GSP imports – leading to higher tariffs, more U.S. inflation, and a risk of permanent GSP loss due to “CNLs.” We want to hear from you. If you’re a GSP importer, can you please...
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