A simple statement from a GSP importer that shows why GSP reauthorization must be a part of any “China competition bill” like the one that House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer hope to pass in July. Yet with the clock ticking until August recess – and then November elections – there...
Continue readingWoombikes USA in Austin, Texas is among the many companies harmed by GSP expiration. According to Woombikes’ response to our new survey on GSP and inflation, the company has paid over $1.9 million in extra tariffs due to GSP expiration on children’s bikes, spare parts, and accessories. Children’s bikes face 11% tariffs without GSP...
Continue readingOne of the first responses to our new survey on GSP and inflation came from Bueno of California in Fullerton, CA, which imports handbags, wallets, travel accessories, totes, and backpacks. The 20-person company has paid nearly $2 million in extra tariffs due to GSP expiration. “We are getting killed between increases in factory prices, add-on...
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