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 readingSophia Foods is a family-owned specialty food distributor founded in 1991. It strives to bring specialty products from around the world to consumers at low prices. GSP is vital in allowing Sophia Foods to keep prices competitive. Sophia Foods was forced to lay off workers each of the last two times Congress allowed GSP to...
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