Full Plate Of Dietary Ingredients In Latest US Tariff Hikes On Chinese Imports
Consumer health industry groups plan to comment at June 17 public hearing on USTR plan for 25% tariff on imports from China not included in three earlier rounds of duties. NPA applauds USTR for allowing exclusion process for imported products valued at $200bn already hit with tariffs in 2018.
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Trump administration negotiations with China representatives led to US suspending tariff increase to 25% on product categories announced set to begin 15 October. But 15% tariff added in September on about $112bn worth of Chinese goods remains and US still plans in December to impose separate 10% tariff hike on $160bn in other products.
Essential oils no longer on list of products slated for EU tariff increases effective 18 October, a win for US fragrance industry facing uncertainty in tumultuous global trade climate. Fragrancy industry, like dietary supplement manufacturers, still face higher tariffs on imports from China as next round of hikes is scheduled to start 15 October.
“With some products facing tariffs as high as 30%, many businesses will have no choice but to pass along those costs to consumers,” an industry coalition called Americans for Free Trade asserted in an August letter to President Donald Trump in response to proposed escalations of tariffs on Chinese goods. “Price increases will likely hit shoppers just as they are making their holiday purchases,” the group noted.