U.S. Decides to Delay, Reduce Tariffs as Part of Agreement With China
Today the U.S. president decided to delay planned tariff increases and reduce some additional tariffs on Chinese products as part of an initial deal with China. The National Electrical Manufacturers Association (NEMA) publically welcomed this decision, and said it will examine the announced tariff reductions and other portions of the U.S.-China phase one deal to understand fully the benefits for U.S. electroindustry manufacturers.
“The additional import tariffs planned for Dec. 15 and administered in stages since July 2018 have affected materially how many NEMA member companies operate and compete,” said NEMA President and CEO Kevin Cosgriff. “We welcome the president’s decision today and look forward to further normalization as the administration and U.S. allies pursue additional enforceable commitments from China on core concerns, including intellectual property protection and technology transfer.”