25% Tariff Increase, Paused

Trade discussions between the United States and China following the G-20 summit over the weekend ended in a type of cease and desist – temporarily at least. Tariffs imposed on $200 billion worth of US imports from China will remain 10% until after the new year, awaiting a 90-day period. The 25% increase will be revisited on March 1, 2019 barring no trade deal implementation before then.

Negotiations will begin immediately between the US and China to discuss topics involving but not limited to: cybersecurity, intellectual property, and non-tariff barriers.

In an effort to balance trade between the nations, China has agreed to import “substantial” amounts of energy, agricultural, and industrial products from the United States. This deal correspondingly stems from the trade deliberations this weekend in Buenos Aires, Argentina.

More to follow. If you have any questions or concerns involving your supply chain and/or current imports that could likely be affected, reach out to us at www.clnusa.com