List 4b Tariffs
As we close out 2019, there is still much uncertainty about what will happen with List 4b. Currently slated to take effect this coming Sunday, Dec. 15, List 4b will add an additional 15-percent duty on covered goods coming from China. Ceiling fans and finished good LEDs are included on List 4b.
Consumers, various industries and trade groups remain hopeful that progress will be made on the negotiations of the previously announced Phase 1, so that President Donald Trump delays the tariffs. Deputy-level trade ministers for the United States and China continue to work on the trade package.
Congressional action seems very unlikely at this point as even the trade hawks in Congress have shifted their focus to other year-end must-do items. This is unfortunate as the latest news further highlights the negative impact tariffs are having on consumers, retailers and manufacturers. Economic data out this week from the multi-industry group Tariffs Hurt the Heartland, stated that Americans paid an additional $7.2 billion in tariffs in October and $42 billion since Trump’s tariffs began.
Manufacturing is also taking a hit in recent months, possibly foreshadowing uncertain financial times ahead. Despite these hard figures, Trump still insists that China is paying the tariffs.
ALA will keep members updated should something happen regarding List4b.