Potential China Tariffs Set for Friday Could Kill Tilapia Market
[News analysis] Just when most importers felt the situation with China was moving towards a resolution, the US abruptly filed to impose tariffs of 25% on the $200 million worth of Chinese goods that are currently taxed at 10%.
Originally these tariffs were to go into effect on January 1st, and the prospect of a serious trade war contributed to the 20% sell-off in the stock market last fall. With the postponement, markets recovered.
Unless there is a last minute change or this was a brinkmanship negotiating tactic, the Trump Administration will impose the 25% tariff as of midnight Thursday night, May 9th.
This means any shipment from China currently on the water and subject to the 10% tariff will see that tariff rise to 25%...Full Story »