The longer GSP remains expired, the more permanent the damage. While Congress seems to view “retroactive” legislation as good enough, companies – especially small businesses – don’t have the same luxury. Instead, they face very real and action-forcing deadlines that can be as simple as a lease renewal. The “tempo...
Continue readingIn the first half of 2021, imports from China increased by $47 billion, while combined imports under GSP from 80+ countries rose by just $760 million. Imports from China aren’t just growing more, they’re growing at a much faster rate too. Those should be sobering facts for all the Members of Congress and the Administration...
Continue readingAccording to new research from the Coalition for GSP, expiration of the Generalized System of Preferences (GSP) program cost American companies at least $83 million in May 2021. Congressional authorization for GSP expired on December 31, 2020. In the first six months of expiration, American companies paid at least $480 million in extra taxes as...
Continue reading