INFOGRAPHIC: American Companies and Workers Win from India’s Inclusion in the GSP Program
Yesterday, Indian Prime Minister Narendi Modi met with President Donald Trump at the White House. Following those meetings, the two leaders committed to “intensify their economic cooperation to make their nations stronger and their citizens more prosperous,” including a specific commitment to “removing obstacles to growth and jobs...
Continue readingGSP Company Profile: Sophia Foods in Brooklyn, New York
Sophia Foods is a family-owned specialty food distributor founded in 1991. It strives to bring specialty products from around the world to consumers at low prices. GSP is vital in allowing Sophia Foods to keep prices competitive. Sophia Foods was forced to lay off workers each of the last two times Congress allowed GSP to...
Continue readingMore Companies Share Negative Impacts of GSP Renewal Uncertainty
A few weeks back, we launched a new survey to see when companies would begin to start placing orders for 2018 delivery and how uncertainty was already impacting GSP users. (If you haven’t answered the survey yet, can you please take 60 seconds to do so here?) The responses to date clearly illustrate why Congress...
Continue readingGSP Company Profile: Aid Through Trade in Annapolis, Maryland
Aid Through Trade is a leader in the fair trade fashion industry. Founded in 1993, today it supports over 200 women artisans in Nepal – one of the poorest countries in the world – in addition to its staff in Maryland. GSP expiration in 2013 had a snowball effect familiar to many small business users...
Continue readingGSP Saved American Companies $66 Million in April 2017
In April 2017, the GSP program saved American companies $66 million on about $1.7 billion in imports. GSP imports were up by 8 percent – and tariffs savings were up by 11 percent – compared to April 2016. Some states such as Kentucky and Virginia saw much larger increases in GSP imports and savings compared...
Continue readingGSP Company Profile: Golden Country, LLC in Chicago, Illinois
Chicago-based Golden Country imports over 4,000 different food products from Asia, Africa, and the Caribbean. GSP has allowed Golden Country to continue serving the tremendous growth in demand for international food products while keeping costs low. When GSP expired in 2013, Golden Country raised prices to reflect the new tariffs and saw sales drop...
Continue readingOver 200 American Organizations Now Calling on Congress to Renew GSP
After the latest Supporter List update this morning, there are now 202 American companies and associations calling on Congress to renew GSP. Since GSP was reinstated in July 2015, it has saved American companies $1.3 billion, including $256 million from January-April 2017. Who benefits the most from GSP? Globally engaged small businesses. Over 80 p...
Continue readingState-by-State Breakdown of $256 Million in GSP Savings Through April 2017
In the 4 months of 2017, GSP saved American companies $256 million in eliminated tariffs. Year-to-date savings crossed the $1 million threshold for 4 states, including Colorado, Mississippi, New Hampshire, and Oregon. In total, GSP savings through April exceeded $1 million for 32 states plus Puerto Rico. The map below shows the overall value of...
Continue readingGSP Company Profile: Fab-Line Machinery in Nashville, Tennessee
Fab-Line Machinery in Nashville supplies metalworking equipment (e.g., press brakes and shears) to American manufacturers. With average machine costs of nearly $150,000, GSP eliminates about $7,500 per machine imported by Fab-Line from Turkey. When GSP expired in 2013, Fab-Line was forced to raise prices to compensate for those new import taxes. Ul...
Continue readingThe Question for GSP Importers: Trust Congress or Raise Prices?
The potential GSP expiration is 7 months away, but companies are already in a very tough spot. 2018 pricing and sourcing decisions must be made now (or soon), but companies can’t know whether their imports will remain duty-free. Congress’ tendency to wait until the last minute to act, or retroactively after the fact, doesn’t help....
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