Based on data released today by the U.S. government, GSP expiration cost U.S. importers $56.5 million in September – about $20,000 more than it cost in August. In those first two months, that works out to about $1.85 million for each day that GSP was expired. Today is the 110th day since GSP expired, so...
Continue readingBased on new August trade data released by the US government, we can finally see the cost of Congress’ inability to renew GSP before July 31…and it’s not pretty. GSP should have eliminated about $56.5 million in taxes on about $1.6 billion in imports in August alone. Instead of having that money on hand to...
Continue readingOne of our latest GSP expiration survey responses shows how the new tariffs harm not just American companies and consumers, but also the small producers in developing countries that GSP was originally designed to help. The submission came from Kelly Weinberger of WorldFinds in Westmont, IL. The company employs 8 people domestically and works with.....
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