Congress allowed the GSP program to expire on December 31. With tariff savings of nearly $3 million per day, GSP expiration likely has cost American companies over $70 million in new taxes. We recently spoke with Patrice Gerber, Founder/CEO of small business Kouboo LLC in Laguna Beach, California – one of those hurt by GSP...
Continue readingHiblow 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 readingAccording to new research from the Coalition for GSP, the Generalized System of Preferences (GSP) program saved American companies $1.035 billion in 2019. Total imports under GSP were nearly $21 billion. While imports under GSP were down from 2018, savings were about the same, as the average tariff waived jumped to 5.0% in 2019 from...
Continue reading