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$2.5 Billion in Tariffs: What Lapse in Trade Programs Could Cost US Firms

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

The Generalized System of Preferences (GSP) and the Miscellaneous Trade Bill (MTB)–each offering duty-free or reduced tariff treatment for a range of imported goods–expired Dec. 31 after Congress failed to reauthorize these critical trade bills. As a result, importers must now pay tariffs on covered goods entering the country. GSP, most recently reauthorized on April…

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