Author Topic: Analysis: Few options left for US firms hit by trade war tariffs  (Read 421 times)

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Offline Formerly Once-Ler

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https://www.gtreview.com/news/americas/analysis-few-options-left-for-us-firms-hit-by-trade-war-tariffs/

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“Tariffs are continuing to devastate American consumers, businesses and farmers,” says Jonathan Gold, spokesperson for Americans for Free Trade, a coalition of US businesses, trade organisations, and workers. Brian Kuehl, co-executive director of Farmers for Free Trade, adds: “Make no mistake – this trade war is as active as it was in December. With crippling tariffs on billions of products being shipped to and from China, the trade war is harming the American economy, devastating farmers, and causing a recession for US manufacturers. The phase one deal didn’t end this trade war – American farmers and businesses need real relief now.”

In the past, US businesses have been able to apply for relief in the form of tariff exemptions. Research by American Action Forum, a thinktank, shows that since the tariffs were enacted, businesses have filed over 150,000 requests for their imports to be excluded. As of November last year, the United States Trade Representative (USTR) granted approximately 35% of these requests – enabling companies to continue business as usual despite ongoing trade tensions.

This looks to be changing, however. Recent research carried out by the Wall Street Journal puts the current approval rate at just 3%, leaving companies struggling to find a way to avoid paying tariffs on Chinese-sourced inputs. “What that has meant in practice is that you are now seeing mostly denials,” says Richard Mojica, a lawyer at US firm Miller Chevalier.

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Offline IsailedawayfromFR

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Re: Analysis: Few options left for US firms hit by trade war tariffs
« Reply #1 on: March 01, 2020, 06:36:44 pm »
Seems like the tariffs on Chinese goods served as a benefit instead of a detriment.

Early warning system to drum up alternative supply sources
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Offline jmyrlefuller

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Re: Analysis: Few options left for US firms hit by trade war tariffs
« Reply #2 on: March 02, 2020, 01:18:38 am »
Lobbyists. Pshaw.
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