66 House Members support GSP renewal, including “smart changes to make GSP countries more viable alternatives to China”

Written on July 12, 2023 in USA

On July 12, 66 Members of the House of Representatives sent a letter to House Ways and Means Chairman Jason Smith (R-MO) and Ranking Member Richard Neal (D-MA) supporting efforts to renew the Generalized System of Preferences (GSP) as a way to “help facilitate supply chain shifts out of China.” GSP, which provides duty-free treatment...

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Congress raises Valentine’s Day costs

Written on February 14, 2023 in USA

Most people know that Valentine’s Day is the #1 holiday for rose sales in the United States. Demand for many other gift items surges too. Sadly, Americans are paying extra taxes on roses and many other gift items because Congress has failed to renew GSP. Let’s look first at flowers. Last Friday, U.S. Customs and...

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118th Congress: GSP expiration survey

Written on January 24, 2023 in USA

The 118th Congress is off to a slow start, after the 117th Congress was the first to let GSP remain lapsed in its entirety in the program’s nearly 50-year history. Not only is this the longest expiration in GSP’s history, the tariff costs associated with expiration will soon be at least twice as high as...

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Clark Griswold hates GSP expiration

Written on December 9, 2022 in USA

If you’ve bought any holiday lights either this year or last – or you’re a Member of Congress or the Administration that wants supply chains to move out of China – then you should hate GSP expiration too. Fun, old-fashioned family Christmas lights have faced up to $65 million in extra tariffs due to GSP...

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GSP users deserve treats, not more tricks, this Halloween

Written on October 31, 2022 in USA

It has been exactly 22 months since Congress let GSP expire. American companies paid at least $1.9 billion in direct tariffs – and as much $2.4 billion – through August 2022. Tack on the two extra months for which data aren’t available yet, and Congress’ failure to renew GSP resulted in up to $2.6 billion...

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GSP expiration makes high “Back to School” tariffs even worse

Written on August 29, 2022 in USA

On Friday, the National Taxpayers Union published data showing how Back To School Season Highlights High Cost of Import Taxes, including the great graphic below. Sadly, even those high tariffs are understated because they don’t account for the impacts of GSP expiration. NTU’s selected products faced at least $120 million in extra tariff...

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