When GSP expired, we lost sales because our products became more expensive. Due to the uncertainty of GSP renewal, we were forced to put a freeze on hiring and capital expenditures.
Sidney Lee, Vice President
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.
GSP expiration in 2013 put Golden Country’s expansion plans on hold. Products were much less competitive with new tariffs and Golden Country had to cut employee benefits after sales dropped.
Since Congress renewed GSP, sales have increased by 5 percent, allowing Golden Country to give employee raises and purchase new warehouse equipment and trucks.