In 2018, then-president Donald Trump put new tariffs on a variety of Chinese-made goods, including baseball caps, luggage and shoes – and Americans have been paying the duties ever since.
In 2018, then-President Donald Trump put new tariffs on a variety of Chinese-made goods, including baseball caps, luggage and shoes – and Americans have been paying the price ever since.
But after a multi-year review of the duties was released last month, the Biden administration decided to keep them in place and raise the rate on a relatively small share of the impacted imports, including things like electrical vehicles and semiconductors made in China.
Known for selling comfortable footwear to retailers like JCPenney, Kohl’s and Macy’s, Deer Stags has been importing most of its shoe line from China since the 1980s, said the company’s president, Rick Muskat.
But we were a deflationary industry that turned when the China tariffs went into effect,” said Nate Herman, senior vice president of policy at the American Apparel & Footwear Association.
“I think the important thing to recognize is that while those tariffs were in place, we had strong GDP growth, certainly avoided a recession that many people said was almost inevitable, we’ve had unemployment below 4% for over two-and-a-half years,” Bernstein said.
Business leaders across the US, as well as lawmakers on both sides of the aisle, tend to agree that China’s unfair trade policies, such as intellectual property theft and forced technology transfers, need to be addressed.
The original article contains 1,741 words, the summary contains 215 words. Saved 88%. I’m a bot and I’m open source!
This is the best summary I could come up with:
In 2018, then-President Donald Trump put new tariffs on a variety of Chinese-made goods, including baseball caps, luggage and shoes – and Americans have been paying the price ever since.
But after a multi-year review of the duties was released last month, the Biden administration decided to keep them in place and raise the rate on a relatively small share of the impacted imports, including things like electrical vehicles and semiconductors made in China.
Known for selling comfortable footwear to retailers like JCPenney, Kohl’s and Macy’s, Deer Stags has been importing most of its shoe line from China since the 1980s, said the company’s president, Rick Muskat.
But we were a deflationary industry that turned when the China tariffs went into effect,” said Nate Herman, senior vice president of policy at the American Apparel & Footwear Association.
“I think the important thing to recognize is that while those tariffs were in place, we had strong GDP growth, certainly avoided a recession that many people said was almost inevitable, we’ve had unemployment below 4% for over two-and-a-half years,” Bernstein said.
Business leaders across the US, as well as lawmakers on both sides of the aisle, tend to agree that China’s unfair trade policies, such as intellectual property theft and forced technology transfers, need to be addressed.
The original article contains 1,741 words, the summary contains 215 words. Saved 88%. I’m a bot and I’m open source!