Tariffs will be imposed on an additional $300 billion in products
SILVER SPRING, MD (Aug. 1, 2019) – After a brief tariff truce with China, President Trump announced a new 10 percent tariff on $300 billion of Chinese imports, taking effect on Sept. 1, 2019. These tariffs will target “List 4” products – products that have not previously been subject to tariff increases. However, the U.S. Trade Representative has not yet released the final list by product category. There is a possibility that certain products will be removed from this list, following the public comments and hearing process in June, in which SFIA advocated for its members’ petitions.
“We are disappointed with the President’s action to escalate this trade war,” stated SFIA President and CEO, Tom Cove. “The announcement of the tariff truce between President Trump and President Xi gave us hope that the two nations would continue negotiations in a positive way that would not harm American consumers and corporations. While we see protecting intellectual property as critically important to global commerce, tariffs are not the solution to the problem, and the American economy will suffer.”
SFIA will continue to discourage the President from increasing import duties on Chinese products, as China serves a crucial manufacturing role for many American companies. As more information is provided regarding the final list to face the 10 percent tariff, SFIA will inform all interested and affected parties. Interested parties are encouraged to contact Bill Sells ([email protected]) or Chandler Hoffman ([email protected]) with any questions.
ABOUT SFIA: The Sports & Fitness Industry Association (SFIA), the #1 source for sport and fitness research, is the leading global trade association of manufacturers, retailers, and marketers in the sports products and fitness industry. SFIA seeks to promote sports and fitness participation, as well as industry vitality through research, thought leadership, public affairs, industry affairs and member services. For more information, please visit www.sfia.org.
###