Chinese import tariff increases delayed
President Trump will delay plans to increase tariffs on $200 billion of Chinese imports. Items on List 3 of the Section 301 tariffs were scheduled to increase from 10 to 25 percent on March 1. Citing productive trade talks between the U.S. and China, the president put the increase on indefinite hold Feb. 24, pending additional trade talks. Throughout this process, NAFEM has maintained that tariffs have the potential to harm NAFEM members, U.S. manufacturers and suppliers, either by targeting material inputs, tools, or the equipment used on the shop floor to manufacture commercial foodservice equipment and supplies. NAFEM will continue to closely monitor this situation.
Categorized in: Advocacy News, Taxes, Tariffs & Trade