NEW SURVEY: How Long For Delivery of Your GSP Imports?
Congress is a very deadline-driven organization. It may not always hit them, but it generally focuses on the next immediate deadline. So a GSP expiration 7+ months away seems like an eternity given all the other deadlines before then. Businesses must think differently. Long lead times between placing orders and US delivery means GSP importers...
Continue readingNominees for the President’s “I” Award
On Monday, U.S. Secretary of Commerce Wilbur Ross honored 32 U.S companies and organizations with the President’s “E” Award. Secretary Ross stated: “Job creation is a top priority for the Trump administration. As we kick off World Trade Week, it is a pleasure to honor these companies who increase our domestic exports and cre...
Continue readingGSP Company Profile: Universal Arquati in Santa Clarita, California
Universal Arquati Moulding is a leading U.S. supplier of quality picture frame moulding, some of which is imported from Indonesia under GSP. In addition to its California headquarters, the company has facilities in Somerset, New Jersey and Carrollton, Texas and sales reps throughout the rest of the country. New tariffs from GSP expiration in 2013.....
Continue readingState-by-State Breakdown of $173 Million in GSP Savings Through March 2017
In the first quarter of 2017, GSP saved American companies $173 million in eliminated tariffs. Year-to-date savings crossed the $1 million threshold for 6 states, including Alabama, Arizona, Louisiana, Minnesota, Missouri, and Nevada. In total, GSP savings through March exceeded $1 million for 28 states plus Puerto Rico. The map below shows the ove...
Continue readingGSP Company Profile: Thompson Traders in Greensboro, North Carolina
Thompson Traders is a family business founded by the Thompson Family. The company aims to provide hand-crafted, luxury sinks and tubs at affordable prices, and GSP is vital to meeting that goal. After 7 years of trials and tribulations, the start-up company reached break-even in 2013 and had grown to 20 employees. Then Congress allowed...
Continue readingGSP Saved American Companies $62 Million in March 2017
In March 2017, the GSP program saved American companies $62 million on about $1.6 billion in imports. GSP imports were down by 2 percent – though tariffs savings were up by 1 percent – compared to March 2016. In the first quarter of 2017, GSP imports were basically flat by value and up about 2...
Continue readingGSP Company Profile: Kona Bicycle in Ferndale, Washington
Founded in 1989, Kona is a dedicated group of cyclists making bicycles for people who love bikes. Most Kona bikes are imported from Cambodia, though it also sells a high-end line made in Tennessee. By eliminating the 11 percent tariff on bicycles, GSP allows Kona to increase its product variety while passing along the savings...
Continue readingThe Irrelevance of Bilateral Trade Deficits: Lessons from Xpres LLC
Yesterday, we demonstrated why a focus on bilateral trade deficits will provide misguided (at best) or counterproductive and harmful (at worst) lessons to policymakers. In short, companies contribute to bilateral trade deficits with some countries and bilateral surpluses with other – but a report on bilateral deficits will almost never captur...
Continue readingThe Irrelevance of Bilateral Trade Deficits: Lessons from GSP Importers
In March, President Trump signed an Executive Order (EO) calling for a report on the causes of “Significant Trade Deficits.” Economists generally agree that macroeconomic factors related to national savings and investment rates drive trade balances, and we subscribe to that view as well. The EO and forthcoming report ensures that much i...
Continue readingGSP Company Profile: B&C Technologies in Panama City Beach
B&C Technologies in Florida is an industry leader in commercial and industrial laundry equipment. B&C imports laundry equipment, particularly parts, from Thailand under GSP and sent one of the more memorable photos for the 2014 GSP expiration survey report: the facility they bought to expand U.S. manufacturing but could not finish because o...
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