Wed Jul 3, 2019
Author: RV News
Leaders in the RV and outdoor recreation business welcomed the news of a truce in the U.S.-China trade war and a halt to the imposition of new tariffs.
President Donald Trump and President Xi Jinping shelved additional tariffs at the G20 Summit in Japan on Saturday. Trump had called for a punitive tariff of up to 25 percent on $300 billion worth of products, including all outdoor apparel, footwear, tents, sleeping bags, skis, snowboards and other sporting goods.
"We welcome news that this pause in the escalating trade war with China and no new tariffs will be imposed on outdoor companies and their products for an indefinite period," Patricia Rojas-Ungar, vice president of government affairs for the Outdoor Industry Association, said. "Now is the time for President Trump and Chinese President Xi to quickly finalize a trade deal, remove all punitive tariffs and free American businesses and consumers from the economic burden of billions of dollars in increased costs this trade war as already caused."
Negotiations between the U.S. and China are expected to resume with the goal of a final agreement that will protect U.S. intellectual property and remove all existing punitive tariffs on $250 billion worth products, including several outdoor products on the so-called List 3, Rojas-Ungar said.
No deadline has been set for those discussions at this time.
The announcement from the G20 Summit comes a week after OIA and 15 outdoor companies testified before high-level Trump administration officials in Washington, D.C. in opposition to the proposed next round of tariffs. The groups highlighted the impact the tariffs would have on jobs, innovation, business opportunities and getting more Americans outdoors.