The U.S. moved forward this week with its threat to place tariffs on $200 billion worth of Chinese imports. The tariffs will kick in this Monday and increase duties by 10 percent on more than 5,700 items, a massive list that ranges from frozen beef to handbags to advanced manufacturing components.
But for impacted businesses, there is somewhat of a silver lining as a result of a bipartisan effort in Congress. The U.S. House and Senate resolved their differences on the Miscellaneous Tariff Bill Act earlier this month, and President Donald Trump signed it into law last week. The bill lowers tariffs on roughly 1,700 items, including many raw materials on the new list aimed at China. Continue Reading