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Tariffs on Chinese Jewelry to Begin September 1
Aug 14, 2019 7:56 AM
By Rapaport News
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RAPAPORT... Jewelry imported into the US from China will attract an extra levy
of 10%, despite the Trump administration’s decision to postpone tariffs on
other goods.
While certain health-and-safety products are being removed
from the prospective tariff list, other items — including toys, computer equipment, video games and
clothing — have
received a temporary reprieve, the US government said Tuesday.
Taxes on those items will be deferred until December 15, so
that retailers can stock up ahead of Christmas. However, jewelry has not been
included on the list. Goods such as diamonds, gemstones and precious metals,
including gold and silver, will still be subject to tariffs from September 1, in line with the
previous schedule, the US Trade Representative (USTR) noted.
Last fall, when the initial tariffs were announced, more
than 100 trade associations, including the National Retail Federation (NRF),
joined together to launch the Tariffs Hurt the Heartland campaign, which tracks
the impact of the duty. According to a study conducted for the campaign, US
companies paid $2.1 billion in tariffs on Chinese products in November 2018
alone, up from $363 million the year before, the NRF noted.
“While we are still reviewing the details, we are pleased
the administration is delaying some tariffs ahead of the holiday season and
acknowledging the impact on American consumers,” said David French, NRF senior
vice president for government relations. “Still, uncertainty for US businesses
continues, and tariffs taking effect September 1 will result in higher costs
for American families and slow the US economy.”
The USTR needs to use the delay period to develop an
effective strategy to address China’s “unfair” trade practices, French stressed,
adding that such a strategy should not include imposing unilateral tariffs that
“cost Americans their jobs and hurt consumers.”
Image: An in-store jewelry display. (Hadrian/Shutterstock)
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Tags:
China Tariff, David French, National Retail Federation, NRF, Rapaport News, tariffs, Tariffs Hurt the Heartland, US Trade Representative, USTR
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