With October trade talks looming, the US postponed a planned escalation of tariffs on Chinese goods 11 September, while China issued tariff exemptions for a range of US products and reportedly is considering renewed agricultural purchases from the states.
Industry Braces For Holiday Tariff Impacts As US-China Trade War Continues
“With some products facing tariffs as high as 30%, many businesses will have no choice but to pass along those costs to consumers,” an industry coalition called Americans for Free Trade asserted in an August letter to President Donald Trump in response to proposed escalations of tariffs on Chinese goods. “Price increases will likely hit shoppers just as they are making their holiday purchases,” the group noted.