TRInternational, Inc. (TRI), a global wholesaler of industrial chemicals headquartered in Seattle, is just one of the companies forced to pay higher tariffs because of Congressional inaction. In the 20 years TRI has been in business, it has made the Puget Sound Business Journal’s “Top 100 Fastest Growing Private Businesses in Washington State” list on three separate occasions. Yet the absence of GSP has cost the company more than $50,000 in higher customs duties.

As noted by Executive Vice President Jeff Wright: “On an annual basis, that’s 1-2 more new hires that TRI could be employing to help our growing company and the Puget Sound region.”

Similar impacts are felt throughout the country. Companies in 32 states (plus Puerto Rico) paid at least $1 million in unexpected taxes in the first 5 months of GSP expiration. TRI is just one of the nearly 500 American companies and associations now calling on Congress to pass an immediate, retroactive GSP renewal.

Many companies have used our House and Senate contact pages to explain the impacts of GSP expiration to their representatives here in Washington. If you’re being hurt, you should contact them too! The question is, will Congress listen?

Nearly 340 organizations in 41 states (plus DC) have now joined the supporter list. You can see them all here. If you’re not on the list but want Congress to renew GSP, be sure to add your name here so we can keep highlighting the importance of GSP to the different states and congressional districts.

Washington companies imported an estimated $265 million under GSP in 2011, saving them on average 3.1%. Thailand was the most important source of GSP imports, accounting for about 33 percent of the tariff savings. Crude oil was Washington’s top import by value under GSP in 2011.

Yet GSP is set to expire on July 31, 2013, and companies could face tariffs higher tariffs starting on August 1 if Congress does not pass legislation renewing GSP. When GSP expired at the end of 2010, American companies paid nearly $2 million per day, every day, until Congress finally acted 11 months later!

This graphic shows just some of the negative impacts from the last GSP expiration. It also helps explain why more than 335 companies and associations – including at least 11 in Washington – joined the 2011 GSP Supporter List urging renewal of the program when it last expired.

Are you a Washington company that would be hurt by GSP expiration? If so, please take 30 seconds to let Congress know by adding your name to our free 2013 GSP Supporter List right now.