Thoughts on Additional United States Tariff of $300b in Chinese Goods
Trump announced on August 1st, 2019 that there would be an additional tariff of 10% placed on $300b worth of Chinese imports that would go into effect September 1st, 2019. This would include goods that were not in the initial 25% tariff that we saw earlier this year. If this were to go into almost all goods that the U.S. imports from China would be hit with some form of tariff. Source information can be found HERE.
These tariffs would have a direct effect on the woodworking, cabinet and furniture industries. These industries have already seen a 25% tariff placed on functional hardware including hinges. If this new tariff goes into effect, we would now see a tariff on imported drawer slides, which have been left out up until this point. The struggle for domestic cabinet makers to compete with imported RTA cabinets continues. Tariffs only makes RTA importers stronger. RTA cabinets saw a 25% tariff, which helped domestic manufacturers. Tariffs continue to pile on to components going into cabinetry we will could see that advantages that were gained from the RTA tariff start to recede.
We will continue to monitor the tariff situation and react as things come through. Comtrad Sourcing is a strategic sourcing company with over 40 years experience importing from Asia. With 3 warehouses located in the U.S. they have the logistics to help curb some of these effects from the tariffs on Chinese goods. More information can be found on our website under PRODUCTS or directly from COMTRAD SOURCING. Please CONTACT Alma Sales for more information on sourcing custom products from Asia.
Categorised in: Important Updates
This post was written by Alma Sales