President Trump expressed optimism recently about reaching a landmark trade deal with China, but said in an interview that he would consider leaving in place some tariffs on Chinese goods even if the two sides strike an agreement. The proposed 25% tariff on $200 billion worth of goods has been postponed at least until June. But the 10% tariff will remain in place. “Without the tariffs, we wouldn’t be talking,” Mr. Trump said in an interview with The New York Times, shortly after his administration concluded two days of high-level trade talks with Chinese officials. “And I make this point clear to them.”
As he hosted the Chinese delegation in the Oval Office earlier in the day, Mr. Trump said he would again with the Chinese president, Xi Jinping. He suggested that Mr. Xi was prepared to make significant changes to Beijing’s economic policies, including opening its market to American companies and buying more products.
The Office of the United States Trade Representative is expected to deliver the decision from the Trump Administration on March 2 regarding whether the 10% tariff on $200 billion worth of goods on products imported from China will increase to 25% or remain the same 10% until some future date. U.S. Customs and Border Protection have been collecting the additional duty since September 24 and so far, the increase in prices has not dramatically affected the market so far.
Tariffs include all display fixtures made of metal and melamine. Econoco and Mondo products that are excluded exempt from the tariff include all mannequins and forms, wood and velvet hangers, acrylics, garment covers, steamers and paper cutters.
Should the tariff be increased to 25%, it is expected to be a huge disruptor to an already-fragile brick and mortar retail markets and will have a huge effect on wholesalers and retailers around the US.
Here at Econoco, we consider our customers more than a sale transaction. We value our relationships and we want to assure you that we are following this issue closely. We have appeared in front of congress to plea for removal of the codes we import under from the 301 List. Although our pleas have thus far gone ignored, we will continue to fight for exclusion. We will immediately cease to charge you, the customer, this increase the moment the U.S. Customs and Border Protection ceases to collect.