Over the weekend, President Trump announced via Twitter that he would be delaying "indefinitely" the increase of 5% duties that was scheduled to go into effect on Oct. 15 for all goods covered by Lists 1-3 and 4A. He is also postponing indefinitely the application of List 4B which was scheduled to go into effect on Dec. 15.
All of these changes and delays spell R-E-L-I-E-F for an import community that has been having to deal with a constantly changing tariff environment which has seen precious little good news for almost 2 years. It is hoped that these delays and postponements are a precursor to a larger trade deal that will end these punitive tariffs once and for all, but we will all just have to wait to see how the negotiations develop. Chinese trade negotiators are in Washington now, and the current wisdom is that there will be a series of smaller trade deals that will finally result in a comprehensive understanding addressing all of the hot-button issues facing our two countries.
We will keep you advised, so please check this blog regularly for updated news.