China-US trade war ratchets up: leather sector will - leatherbiz: Lea Leatherbiz

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China-US trade war ratchets up: leather sector will suffer

18/09/2018
The trade war between the US and China has intensified. On September 17, the US announced its decision to move forward with tariffs on approximately $200 billion per year worth of imports from China.

These tariffs will initially be set at 10% and will come into effect on September 24, but will increase to 25% on January 1, 2019. The list of products that the US will target includes a series of finished products containing leather, including luggage, bags, gloves, belts and wallets. Some furniture and car seats will also be included, although leather footwear will not (for now, at least).

In response, China has announced it will retaliate by targeting imports from the US worth $60 billion per year. It published a list of targeted products in August. Most US hides and wet blue will be subject to 5% tariffs, although calf skins and some other skins will be subject to 25% tariffs. Like those imposed by the US, these tariffs will take effect on September 24.


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