The United States has escalated its trade war with China, hiking tariffs on $200 billion worth of Chinese exports hours after trade talks held in Washington failed to produce a breakthrough.
Additional Tariffs on the targeted exports increased from 10% to 25% at 12:01 a.m. ET on Friday 10th May, prompting a swift rebuke from Beijing.
The Chinese government expressed “deep regret over the development” and pledged to take “necessary countermeasures.”
This development will impact heavily on US companies importing products from China – increasing the cost significantly.
Horizon International, in conjunction with our sister company, Sea Air Logistics, operate a range of freight forwarding and supply chain services between China and the USA. We have a great deal of expertise and experience on this tradelane and can provide guidance and advice to assist in mitigating the impact of this decision.
To discuss your concerns and how this development may impact you, please contact Horizon and one of our supply chain experts will be pleased to assist.