At 0:50 on March 23, Beijing time, President Trump officially signed a trade memorandum with China at the White House. It is believed that the U.S. government will consider imposing tariffs on more than 100 kinds of Chinese products including toys, electronics, telecommunications equipment, and furniture. The U.S. Trade Representative Office will announce the list of goods within 15 days, followed by 30 days of publicity.
Earlier, Trump will push news on China’s new tariff policy and it has triggered a shake in the US business and trade circles.
According to the US “Wall Street Journal” reported on March 19, 45 industry associations representing various economic sectors in the United States (covering companies in the technology, retail, agriculture, and consumer goods industries, including Apple, Google, IBM, Nike, Wal-Mart, etc.) have Trump submitted a petition calling for a suspension of tariffs on Chinese imports.
The Chinese and foreign toys network (Ctoy-gdta) was informed that the president of the American Toy Association mentioned to the President’s open letter that the American Toy Association actively responds to the threat of the policy of increasing the tariff imposed on Chinese goods to toys, and will join forces with other industry associations. The government petitioned. "We encourage joint civil and media forces to oppose the tariff policy."
The United States is the world’s largest toy consumer market, and China is the world’s largest toy production base. According to data provided by the Guangdong Toy Association, 28.8% of Chinese toys were exported to the United States in 2017, while 80% of products in the US toy market were made in China.
The American Toy Association stated that “government officials must understand that this policy not only affects American commerce, but also that Americans must understand that tariffs will have a series of effects on their daily consumption. If they fall into a trade war, they will lose both.”
Copyright © Shanghai Tangwei Toys Factory All Rights Reserved.