Bah humbug! Trump's plan for more China tariffs to hit festive shoppers

18 Juin, 2019, 13:11 | Auteur: Anatole Charbonneau
  • Bah humbug! Trump's plan for more China tariffs to hit festive shoppers

Spirit of 76, a fireworks company that imports 100 per cent of its product from China, said the tariffs would cause significant harm to its business where profit margins are already razor thin.

Retailers are pleading with US trade representatives in a frantic bid to stop the Trump administration from slapping new 25 percent tariffs on an additional $300 billion worth of Chinese goods.

At the hearings, more than 300 people are scheduled to testify.

As of May 10, the U.S. Trade Representative increased the rate of additional duty from 10% to 25% on $200 billion of Chinese imports, flooring included.

Ms Lu Yu, vice-president of the China Chamber of Commerce of Food Stuffs, Native Produce and Animal Byproducts, said putting tariffs on Chinese tea made no sense.

Flannery said that presently there is no country developing metal baby gates exterior of China.

So far, Trump has imposed tariffs on more than $250 billion in Chinese goods but this has spared most consumer items from major price increases.

And the specter of such a massive hit to consumers' wallets holds political peril for Trump.

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Deriving from other countries will escalate the costs, in the majority of cases added to 25 percent tariffs; some observers apprised a jury of USA trade officials from USTR, the Commerce Department and alternative federal agencies.

The proposed list, which will be ready for a decision by Trump as early as July 2, includes almost all consumer products, and could hit Christmas sales hard, particularly cell phones, computers, toys and electronic gadgets.

It said it would have to raise prices and the resulting loss in sales would impact hiring and expansion plans.

Jean Kolloff, owner of cashmere importer Quinn Apparel, said her reason for opposing the tariffs was more geographical - the Alashan goat that produces light-colored cashmere wool is only found in China's Inner Mongolia region.

Child protection products like auto seats were reprieved from Trump's former tariffs on $200 billion worth of Chinese goods levied on September 2018.

On Sunday, the Communist Party's most important journal expounded on Sino-U.S. relations in advance of the anticipated meeting between President Donald Trump and Chinese ruler Xi Jinping at the end of this month at the Osaka G-20.

Not all of the witnesses on the first day of the hearing were opposed to the tariffs.

This allowed the units to be imported duty free as parts, rather than as completed systems that were subject to tariffs. This article is strictly for informational purposes only.

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