News Summary May 10, 2019
Today's Main Story: China 25% Tariffs Imposed, Customs Delays Impact for Shipments on Water
An increase from a 10% to 25% tariff rate on all Chinese goods currently subjected to US tariffs went into effect at midnight last night. However, contrary to what we thought yesterday, Customs late yesterday announced that the tariff would only apply to goods loaded after the effective date. Products on the water have until June 1st to clear at the old rate. We also look at the damage the tariffs will do to both sides, potentially costing the average US family $2000 per year in higher costs...
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