USTR officially postpones tariff hike on Chinese goods

The Section 301 tariffs across $200 billion of Chinese goods had been set to increase to 25 percent at the beginning of the new year.

USTR officially postpones tariff hike on Chinese goods

The Section 301 tariffs across $200 billion of Chinese goods had been set to increase to 25 percent at the beginning of the new year.

USTR officially postpones tariff hike on Chinese goods

The Section 301 tariffs across $200 billion of Chinese goods had been set to increase to 25 percent at the beginning of the new year.

 
The Office of the U.S. Trade Representative on Wednesday issued a notice officially postponing the increase of 10 percent tariffs across $200 billion worth of goods from China in 2017 import value to March 2.
    The Section 301 tariffs had been set to rise to 25 percent on Jan. 1, until U.S. and Chinese delegations agreed during a Dec. 1 meeting to hold off on imposing additional tariffs for 90 days while pursuing a lowering of trade tensions.
    USTR had announced the planned increase on Sept. 21.
    “The Trade Representatives decision to modify the September 2018 action takes into account the extensive public comments and testimony, as well as advice from advisory committees, concerning the actions proposed in the notices issued in advance of the September 2018 action,” the USTR notice says. “The Trade Representatives decision also reflects the advice of the interagency Section 301 Committee.”
An often heard concern pertaining to online freight platforms is that they will lead to a ‘race to the bottom’ as shippers will always choose the lowest rate. Based on access to 780,000 online spot rate offers, I have analyzed to which degree this fear is real. The data is clear. In cases where shippers had a choice between different providers for a departure on the same day, 49 percent did not choose the cheapest provider.
The World Container Index, assessed by Drewry and a composite of container freight rates on eight major routes to and from the U.S., Europe and Asia, is up 14.1 percent to $1,792.96 per 40-foot container as of Jan. 3.
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