China-us trade talks continue. China raises tariffs to 25%
Washington, D.C. , May 10,2019 — the Donald Trump administration has raised tariffs on $200 billion worth of Chinese imports, including flooring, from 10 percent to 25 percent, the Wall Street Journal reported “and threatened to impose additional tariffs on almost all Chinese exports to the US. “.
However, the increase will only affect exports from China after midnight last night, according to the official Federal Register. Currently all “water” goods from China will be allowed to enter the United States at current rates, regardless of the date of arrival.
“Sea transport from Chinese ports to US ports takes an average of 35 days (+ /-3 days) , ” says Harlan Stone, chief executive of Halstead / metroflor. That means negotiations will continue for five to six weeks without any impact on U.S. consumers, businesses or the broader economy. That’s a good thing. High-level trade talks are expected to continue today in Washington, D. C. The objective of these discussions has never changed: to reach an agreement that allows for greater openness, fairness and increased trade between the world’s two largest economies.”