State-by-State Breakdown of $472 Million in GSP Savings Through July 2017
In the first seven months of 2017, GSP saved American companies $472 million in eliminated tariffs. With the addition of Delaware and Hawaii, year-to-date GSP savings through July exceeded $1 million for 39 states plus Puerto Rico. The map below shows the overall value of year-to-date 2017 GSP imports (in blue) and tax savings (in...
Continue readingGSP Company Profile: Royal Chain Group in New York, New York
Royal Chain Group is a family-owned importer and distributor of fine jewelry. Based in New York City, it supplies jewelry to retailers throughout the United States. Royal Chain imports gold and silver jewelry from Indonesia, Thailand, and Turkey under GSP. While GSP was expired, Royal Chain paid more than $2 million in new tariffs. It...
Continue readingGSP Saved American Companies $73 Million in July 2017
In July 2017, the GSP program saved American companies $73 million on about $1.8 billion in imports. GSP imports were up by 18 percent – and tariffs savings were up by 23 percent – compared to July 2016. (NOTE: that likely understates savings, as U.S. government data show no claimed GSP benefits for imports of...
Continue readingTell Congress It’s Time to Renew GSP
Congress returned this week after its extended August recess and there are just 115 days until GSP expires – with just a fraction of those being “legislative” days. As Members begin to focus on year-end priorities, it’s crucial that they hear from GSP importers about the importance of renewal. Please use our Contact Congress...
Continue readingState-by-State Breakdown of $399 Million in GSP Savings Through June 2017
In the first 6 months of 2017, GSP saved American companies $399 million in eliminated tariffs. Year-to-date savings crossed the $1 million threshold for two states: Rhode Island and Kansas. In total, GSP savings through June exceeded $1 million for 37 states plus Puerto Rico. The map below shows the overall value of year-to-date 2017...
Continue readingGSP Company Profile: 3V Sigma USA in Georgetown, South Carolina
3V Sigma is a leading producer of advanced specialty chemicals that has been in business for over 60 years. 3V imports some of their chemicals from India through GSP and is able to pass those savings on to its customers: American manufacturers of paper, plastics, textiles, coatings, building materials, and related products. GSP expiration in....
Continue readingGSP Saved American Companies $71 Million in June 2017
In June 2017, the GSP program saved American companies $71 million on about $1.8 billion in imports. June marked the first time that monthly GSP savings exceeded $70 million in consecutive months since September-October 2008. (GSP saved American companies $72 million May). GSP imports were up by 15 percent – and tariffs savings were up...
Continue readingGSP Creating Jobs in North Carolina, California, and New York
Every day this week we’ve been spotlighting 3 companies around the country benefiting from GSP renewal. (Here are the posts from Monday, Tuesday, and Wednesday). Below are three more companies able to new and better American jobs because of GSP renewal: Thompson Traders in Greensboro, North Carolina: GSP expiration cost Thompson Traders...
Continue readingGSP Renewal Leads to New and Better Jobs in Illinois, Tennessee, and Washington
We continue highlighting companies around the country benefiting from GSP renewal. Yesterday focused on three companies in California, Florida, and North Carolina, while Monday focused on companies in Colorado, Illinois, and Missouri. Below are three more companies able to new and better American jobs because of GSP renewal: Kona Bicycle in Ferndal...
Continue readingGSP Renewal Spurs Job-Creating Investments in California, Florida, and North Carolina
This week we’ll be highlighting some of the companies creating good jobs around the United States on account of GSP renewal. Yesterday we spotlighted three companies in Colorado, Illinois, and Missouri. Below are three more companies able to make significant investments – also resulting in job growth – because of GSP renewal: Xpre...
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