Trump Administration Half 145% May China Tariff till 50% next week: Report
The Trump administration is considering cutting 145% tariffs on Chinese imports, possibly cutting at the beginning of next week, as the US and Chinese authorities have designed for high-level trade talks in Switzerland,
The New York Post
Informed, citing sources close to talks.US authorities are allegedly weighing levy deficiency between 50% and 54%, a step aimed at reducing stress as a trade talks. Proposed deduction,
Post
Neighbors will be with a separate plan to reduce tariffs on imports from South Asian countries.“They are going to bring it down to 50%, while the talks are going on,” said a source.
Post
,US President Trump indicated in a possible tariff shift during a meeting with UK officials at the Oval Office, stating, “It’s at 145 so we know that it is coming down,” while expressing optimism on the US-China relationship. “I think we’re going to have a very good relationship,” he said.Leaders of retail industry, including Walmart’s Dug Macmillan, Brian Cornell of Target and Ted Decker of Home Depot, urged Trump to consider reducing the tariff burden during a meeting at the White House on 21 April. Although the authorities described the session as “productive” and “creative”, no specific results were explained.Retail vendors have started preparing several tariffs since then. Toy company Basic Fun CEO J. Foreman quoted
Post
These many are now asking vendors to quote prices based on tariffs between 10% and 54% to ensure flexibility. He said that 54% of the levy will still increase prices significantly, such as the Tonka truck jumps from $ 29.99 to $ 49.99, but it is “working”. A 145% tariff, however, would increase the price by about $ 80, which he warned that “would bring sales in a virtual stagnation.”Nick Mobre, CEO of Toy Brand Zuru, said, “speculation is 54%,” but said that it is “definitely not yet clearly stated to retail.”Meanwhile, the White House dismissed the tariff rollback talk as speculation, the news agency reported
Roots
“When decisions are made on tariffs, they will come directly from the President. A White House spokesperson said, “There are something else pure speculation.Nevertheless, retail officials say the recent comments by Treasury Secretary Scott Besant at the Milken Institute Global Conference said that the current rate is “not durable”, assuring them that a change is adjacent.Cra-Z-Quart president Lawrence Rosen confirmed
Post
These retailers are hearing similar figures, “We are listening to China at 50% to 54% and other Asian countries at 25%.”Foreman revealed that the basic fun has a seven containers’ route for the US under a rate of 145% and plans to store them to avoid expensive levy. The rest live in the warehouses, waiting for the green light.COO Noel Hesgaba at the Long Beach port said the expectations will help in the Switzerland dialogue “D-Susscale growing trade stress”, but insisted that the shippers need “a strong sign” before adjusting the supply routes.Former CEO Retail Expert Gerald Starch of Toys R US told
Post
Since the White House meeting, retailers feel “less nervous” and their urgency for domestic sourcing is “comfort”.While the situation is liquid, toy industry, 80% of American toy from China, and wider retail sectors are looking closely for any official word from Trump in the coming days.
