News Release:
President Trump Imposes Additional Taxes on Imports From China
OIA Reports On The US Trade Representative's (USTR) Preliminary List of Products That Will Be Subject To An Increase Of 25% In Retaliatory Tariffs.
Editor's Note: This news item was retrieved and first published via OIA's website.
Following a statement made by President Trump last month, the Office of the United States Trade Representative (USTR) released a preliminary list of products that will be subject to an additional 25% tariff, under the imposed $50 billion in retaliatory tariffs on products from China. Outdoor Industry Association (OIA) says the outcome is a good news for the $887 billion outdoor recreation economy as apparel, footwear and travel goods were not included on the initial list. OIA and its members will continue to make the case that outdoor products should not be included on the final list. The outdoor industry already faces some of the highest tariffs applied by the United States, with an average rate of 17% compared with an average of less than 3% on most other products.
According to the OIA press release, USTR will institute a public comment session and a hearing in which companies and trade associations can petition to add or remove products from the final list. Once that final list is released, the 25% tariff will be added to those products immediately and will remain in place until the president determines that China has met U.S. demands. USTR Robert Lighthizer issued a report that China stealing American intellectual property (IP) initiated all this. Present rim p wants to prohibit illegal technology transfers happening between the countries.
For the full press release by the Outdoor Industry Association, click here.