injection molds tariffs china, is THE USA still imposing tariffs on molded plastic parts and steel molds
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The latest news is that China and USA are lowering , step by step, the tariffs on steel and molds, aswell as injection molded plastics parts such as toys, bins and so on
Which part of the rates will be scrapped can still be negotiated, reports the Chinese ministry. The trade dispute between China and the US has been going on for almost a year and a half now and has escalated considerably. Almost all imports from China are now taxed by the US. Imposing tariffs back and forth. The US has a rate of 25 percent on imports of 250 billion dollars in imports. In addition, a rate of 10 percent is applied to the remaining $ 300 billion in total imports. In the meantime, China, in turn, has always followed US measures. If the US took an extra step, China took the same step as a countermeasure. This has made the export from the US to China considerably more expensive. Impact on economy: This has a major impact on the economy of both countries. The growth of the Chinese economy has been slowing for a long time. Exports have shrunk as a result of trade tensions and debts in China have risen sharply. The American economy is also feeling the blows. Analysts already predicted that economic growth will be disappointing and that American companies may need to reduce their activities. There was a fear that the trade war would result in a recession. The current Situation: according AMBA, in the US there is nowadays enough capacity to build moulds .: " In July 2018, the U.S. government imposed a 25% tariff on imported plastic injection molds from China; however, a 12-month exclusion from the tariffs was granted to U.S. importers on Dec. 28, 2018. Over 150 mold-building manufacturers have filed comments opposing an extension of the tariff suspension, clearly demonstrating sufficient capacity exists in the United States to meet demand." So over the year 2019 the 25 % tariffs was not imposed on exported molds from China importing molds in THE US. |
injection mold tariff
