Nearly 300 American organizations call on Congressional leaders to renew GSP in the Lame Duck
On December 1, 284 American companies and associations sent a letter to Senate Majority Leader McConnell, Senate Democratic Leader Schumer, House Speaker Pelosi, and House Republican Leader McCarthy urging immediate passage of legislation extending the Generalized System of Preferences (GSP). [If you missed the deadline but want Congress to renew G...
Continue readingMichigan small business: “over $400,000 that we need to recoup from somewhere” if GSP expires
Hiblow is a distributor of linear diaphragm pumps based in Saline, Michigan. It employs 6 workers, including a new warehouse manager position created in 2020. Hiblow sells pumps imported under GSP to three major markets: medical pumps to U.S. medical device manufacturers (therapy devices, hospital beds, incubators); pumps for onsite wastewater trea...
Continue readingGSP saved American companies $79 million in September; $630 million in first 9 months of 2020
GSP saved American companies $79 million in September, the most since March as imports continue to recover from the Covid-19 pandemic and recession. In the first 9 months of 2020, GSP saved American companies $630 million. GSP is on track to save between $850 million and $900 million in 2020, down from 2018/2019 due to...
Continue readingCosts of GSP country suspensions to American companies hit $500 million (and they’re still climbing)
While all focus right now is on the need for Congress to renew GSP before December 31, the harm done by Administrative actions to American companies since GSP was last renewed in 2018 cannot be overstated. Since the last Congressional GSP reauthorization, American companies have paid up to $500 million in extra tariffs due to...
Continue readingGSP Coalition’s Dan Anthony discusses importance of GSP renewal on Trade Matters podcast
This week Dan Anthony, Executive Director of the Coalition for GSP, joined the Yeutter Institute’s Trade Matters podcast to discuss GSP, its importance to American businesses, and potential expiration. The conversation covered lots of ground including: small business reliance – the typical GSP supporter company has 12 employees and save...
Continue reading30-person chemical distributor: GSP “saves our company the equivalent of more than a full-time employee’s annual salary”
TR International (TRI) is a chemical distributor based in Seattle, Washington. It employs 20 workers at its Seattle headquarters and 10 more at locations throughout the United States. It supplies imported and domestic chemicals to American manufacturers of paints, coatings, industrial cleaners, personal care products, hand sanitizers, and disinfect...
Continue readingCovid-driven demand: revisiting cast acrylic and face mask imports
Last month we looked at import trends for cast acrylic sheet and face masks. The products are similar in that both have seen increased demand due to Covid-19. Based on new data, that demand did not slow in August. For cast acrylic sheets, GSP imports reached over $9 million in August. That was nearly $2...
Continue readingSmall business: GSP imports “even helped out the State of Ohio with some PPE protective wear”
The Cannon Group in Westerville, Ohio is a family-owned company that provides plastic packaging products to newspapers, grocery stores, and other cost-conscious industries. Due to Covid-19, it has begun supplying PPE products, initially to help existing customers keep their businesses running and more recently providing PPE products to the State of...
Continue readingGSP saved American companies $78 million in August; $551 million in first 8 months of 2020
GSP saved American companies $78 million in August, the most since March as imports continue to recover from the Covid-19 pandemic and recession. In the first 8 months of 2020, GSP saved American companies $551 million. GSP benefits companies in every state – the map below shows the overall value of January-August 2020 GSP imports...
Continue readingSenate Finance Chairman Grassley introduces GSP renewal bill
On September 24, Senate Finance Committee Chairman Committee Chuck Grassley (R-IA) introduced S.4729, which would extend GSP’s authorization through April 30, 2022. Grassley refiled the bill on October 1 as S.4784, but it remains a 16-month extension without other changes. The Grassley legislation is a welcome first step in trying to renew GS...
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