SecurityWorldMarket

16/05/2019

Impact of new tariffs on Chinese goods begins to show in US

San Dimas, Ca (USA)

Following the recently announced tariff increase of potentially up to 25% on certain Chinese goods being imported into the US, Bolide has issued a statement to its clients advising of possible price increases in the future.

After talks failed to reach an agreement between President Trump and the Chinese Government, the U.S. increased its tariffs on Friday 10th May from 10 percent to 25 percent on $200 billion worth of Chinese goods. The world's largest economies are involved in an escalating trade feud between the world's largest economies after President Trump accused the Chinese of backtracking on a previously discussed potential agreement.  

In a tit for tat trade war, the Chinese have now retaliated with a similar tariff hike on goods going into China from the US due to take effect from 1st June 2019.  The Chinese Ministry of Finance has said that the new tariffs would impact $60 billion in U.S. imports and would range from 5% to 25%, effecting some 5,000 US product imports.

According to USA today President Trump was reported as saying. - “I love the position we’re in,” Trump said from the Oval Office. “I think it’s working out really well.” -   In the same report the newspaper also said that stocks tumbled as the Dow Jones took a 600 point fall following China's announcement.

Bolide has made the following statement to its clients on the subject in a letter dated 13th May 2019:

"Due to the recent tariff hike that occurred last week, possible price increases could apply for future shipments of Bolide products. We will announce any price changes to be made, if any, as soon as possible.

In the meantime, we will honor prices for all Bolide products that are currently in our inventory.

We strongly urge you to place any pending orders while inventory is in stock and available to ship.

We value your business and we are continuing to work on maintaining our competitive pricing and great quality."


Tags

Product Suppliers
Back to top