Most US hides will be hit by China's 5% tariff increase
27/08/2019
This follows the Office of the US Trade Representative announcement this month that it would levy 10% tariffs on an additional $300 billion in Chinese imports to the US.
The US Hides, Skins and Leather Association (USHSLA) has said based on initial analyses, the majority of US hides and skins exports to China are targeted for a 5% tariff increase from December 15.
“Meanwhile, the US responded to China's retaliation by announcing existing tariffs on $250 billion in Chinese imports would rise from 25% to 30%, effective October 1. Tariffs planned for September 1 on $300 billion worth of Chinese goods would increase from 10% to 15%,” said USHSLA.
Photo by Annie Spratt on Unsplash
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