Auto glass manufacturer Guardian Industries Corp., is among the companies urging Congress to change the corporate tax laws that place penalty tariffs on U.S. exports to Europe, the Pittsburgh Tribune-Review reported. Currently, a tax break for exporters is costing companies more in tariffs than they can make up on the European market for their goods and services.
The tariffs have been imposed by the European Union after the World Trade Organization ruled that the tax break is the equivalent of an illegal subsidy. The European Union is increasing tariffs by 1 percent for each month that Congress does not repeal the tax break; what started as a 5 percent tariff in March is now 11 percent and rising.
According to the article, Stephen Farrar of Guardian indicated that the company is looking at shipping its auto glass to European customers from a plant in Thailand rather than from Pennsylvania.
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