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In the News: China Tariffs, Korea-Israel FTA, U.S.-Japan Talks

Thursday, August 22, 2019
Sandler, Travis & Rosenberg Trade Report

Trump’s “Christmas gift” to consumers and businesses: Walking back tariff threats

“Nicole Bivens Collinson, president of international trade and government relations for Sandler, Travis & Rosenberg, believes there’s another reason the president stopped short of imposing tariffs on $300 billion worth of Chinese goods. ‘I think they were delayed because the president started seeing the markets tank,’ she said.”

[NPR]

How one U.S. firm tried escaping Trump's China tariffs

“Trade lawyer Sally Peng of Sandler, Travis & Rosenberg … described how Chinese factory floors were emptying out as workers were laid off. Few owners had the expertise or resources to automate or find new export markets, so most were riding it out, hoping for a trade deal. They were ‘losing money every day,’ she said.’

[Reuters]

U.S. apparel industry works to blunt impact of tariffs

“In all, about $33 billion in apparel, shoes and hats are among the items subject to a 10% tariff on Chinese imports beginning Sept. 1, according to a Wall Street Journal analysis of data from the Office of the U.S. Trade Representative and the Census Bureau.”

[Dow Jones]

Israel, South Korea forge free trade deal

“Under the deal, more than 95% of Israeli exports will be exempt from customs duties while importers and consumers will save some 100 million shekels ($28 million) a year, the Economy Ministry said. … Customs duties will be eliminated on imports from South Korea, the world’s 11th largest economy, including cars and auto parts, toys, appliances and electronic components.”

[Reuters]

Japan, U.S. ministers meet for trade talks as hopes for early deal fade

“U.S. auto industry officials said this week the deal is likely to involve Tokyo offering U.S. farmers new access to its market, in return for Washington reducing tariffs on certain Japanese auto parts.”

[Reuters]

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