President Trump announced Dec. 13 a phase one trade agreement with China under which the U.S. will not impose the additional 15 percent tariff on List 4B goods imported from China that was set to take effect Dec. 15. An official notice implementing this action is scheduled to be published in the Dec. 18 Federal Register.
The president said the U.S. has also agreed to reduce the additional tariff on List 4A goods from 15 percent to 7.5 percent. According to press reports, U.S. Trade Representative Robert Lighthizer said this reduction will take effect 30 days after the agreement is signed, which he said will be in early January in Washington, D.C. The 25 percent tariff on Chinese goods on lists 1, 2, and 3 will remain in place.
- Posted by Joe DeSilvetri
- On December 17, 2019
- 0 Comments