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Tariff increases just weeks away for the U.S. and China

Toronto, February12, 2019

A solution to the current trade dispute between the United States and China is uncertain with just two weeks left before the U.S. increases tariffs on China that would raise the duty on $200billion worth of Chinese goods to 25% from10%, effective March2.

Negotiations continue, but a rumoured meeting between the respective heads of state is not going to happen, according to U.S. President Donald Trump. Trump told reporters on Tuesday during a cabinet meeting that he would consider extending a March1 deadline to close a trade deal before raising tariffs on Chinese products. “I could see myself letting that slide for a while if we’re close to a deal.”

China has promised to retaliate if the U.S. goes ahead with the tariff increases, sparking fears that both countries are on the road to a no-win result that hurts both countries economically.

For more information, please call Brian Rowe, Director – Customs Compliance & Regulatory Affairs at (905)882-4880, ext.213.

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