GSP expired on December 31. While renewal has bipartisan support in Congress and backing from the Administration, it doesn’t guarantee swift renewal: that was true during GSP’s last year expiration too. Already, companies have paid an estimated $50-$60 million and will pay several million more every day until Congress renews GSP and the...
Continue readingIn the first 11 months of 2017, GSP saved American companies $785 million in eliminated taxes. That is about $118 million, or nearly $11 million per month, more than the first 11 months of 2016. Savings for July-October also don’t reflect program changes adding benefits for travel goods that could add another $5-10 million per...
Continue readingBrian Miles from chemical distributor I. Stern & Co. in Clark, New Jersey doesn’t believe it can “sustain all of our salespeople if we are put into an uncompetitive price situation caused by the additional duty costs for our raw materials.” Thomas Snyder of Warehouse Associates in Indianapolis, Indiana, which supplies componen...
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