SFIA Pleased with President’s Temporary Suspension of New Tariffs
SILVER SPRING, MD (Dec. 3, 2018) –President Trump’s announcement, on Saturday, Dec. 1, that he will not raise tariffs on Chinese-made products from 10 percent to 25 percent on Jan. 1, 2019, is welcome news for the sports and fitness industry. In addition, knowing that the proposed tariffs on the remaining $276 billion of Chinese imports will be delayed is a hopeful sign that the administration will use this additional time to reach an agreement on intellectual property rights and market access without using huge tariffs as a negotiating tool.
“SFIA sees this action as a positive step toward resolving our trade issues with China,” stated SFIA President and CEO, Tom Cove. “We are hopeful this 90-day period will lead to an agreement that does not rely on punitive tariffs to achieve our policy objectives.”
The 90-day tariff suspension period will expire on March 1, 2019. SFIA will continue to closely monitor the negotiations and prepare to assist the industry in navigating the challenging trade landscape ahead.
Please contact Bill Sells at bsells@SFIA.org for additional information on the product exemption petition process.
ABOUT SFIA: The Sports & Fitness Industry Association (SFIA), the #1 source for sport and fitness research, is the leading global trade association of manufacturers, retailers, and marketers in the sports products and fitness industry. SFIA seeks to promote sports and fitness participation, as well as industry vitality through research, thought leadership, public affairs, industry affairs and member services. For more information, please visit www.sfia.org.