GSP saved American companies $894 million in 2017, an increase of nearly $30 million from past estimates. The new estimates are based on revisions and updates from the U.S. Census Bureau published in June and August, and details on some of the increases are below. Even before upward revisions, U.S. companies’ tax benefits from GSP...
Continue readingRoyal Chain Group is a family-owned importer and distributor of fine jewelry. Based in New York City, it supplies jewelry to retailers throughout the United States. Royal Chain imports gold and silver jewelry from Indonesia, Thailand, and Turkey under GSP. While GSP was expired, Royal Chain paid more than $2 million in new tariffs. It...
Continue readingChicago-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. When GSP expired in 2013, Golden Country raised prices to reflect the new tariffs and saw sales drop...
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