President Trump’s announcement, on Saturday, December 1, that he will not raise tariffs on Chinese-made products from 10 percent to 25 percent on Jan. 1, 2019, is welcome news for the sports and fitness industry, according to the Sports & Fitness Industry Association.
In addition, knowing that the proposed tariffs on the remaining $276 billion of Chinese imports will be delayed is a hopeful sign that the administration will use this additional time to reach an agreement on intellectual property rights and market access without using huge tariffs as a negotiating tool.
“SFIA sees this action as a positive step toward resolving our trade issues with China,” said SFIA President and CEO, Tom Cove. “We are hopeful this 90-day period will lead to an agreement that does not rely on punitive tariffs to achieve our policy objectives.”
The 90-day tariff suspension period will expire on March 1, 2019. SFIA will continue to closely monitor the negotiations and prepare to assist the industry in navigating the challenging trade landscape ahead.