INTERNET MARKETING

 

 
INTERNET MARKETING

New U.S. - China Tariffs (May 2019)

Exeuctive Order Limits Foreign Telecom Equipment Use (May 2019)

Tariffs with Canada and Mexico Removed (May 2019)

What is Experiential Marketing and How Can it Benefit Your Small Business?

A look under the hood of profitable e-commerce websites

Do You Need a Home Office or Separate Office for your Small Business?

 States With No Corporate Income Tax Rate
Nevada
South Dakota
Texas
Washington
Wyoming 
States With No Personal Income Tax
Alaska
Florida
Nevada
South Dakota
Texas
Washington
Wyoming
States With No Corporate or Personal Income Tax Rate
Nevada
South Dakota
Texas
Washington
Wyoming
Key Economic Indicators 
Item  Rate 
CPI: 0.1% (May 2019) 
GDP Growth:   3.1% (1st QTR 2019)
Bank Prime Interest Rate:   5.5%
Consumer Confidence:  134.1% (May 2019) 
Small Biz Confidence:  105.0% (May 2019) 
Avg Gas Price:  $2.68 
 
 
 
 

 

 

 

 

 

 

 

SMALL BUSINESS NEWS

May 2019

 

Email this page    

 

New U.S. - China Tariffs

On May 9, 2019, the U.S. government announced that the tariff rate imposed on the $200 billion list of goods imported from China would be increased to 25% from 10% since May 10, 2019.  This wave of tariffs came because China back peddled on an item that was previously agreed to during the ongoing trade negotiations.

 

The Chinese government reacted by imposing counter tariffs on $60 billion of U.S. products from 5% and 10% to 25%.  The higher duties are scheduled to take effect June 1

 

Chinese tariffs will impact about 5,000 U.S. made products, including beef, fruit, vegetables, coats, refrigerators, furniture aircraft and electric saws.  For the list of products impacted by China’s tariffs see Appendix 2 – Schedule of tariffs on U.S. agricultural products [page 6]

 

 

U.S. tariffs on Chinese products will affect clothes dryers, seafood, carpet, shampoo, hammers, and even gift wrap and dog leashes.

 

 

 Here is a quick breakdown of the tariff imposition timeline:

 

-July 6, 2018: U.S. imposed 25% tariffs on $34 billion of imports of Chinese goods, and China immediately retaliated with tariffs on U.S. exports in the same amount.

 

-August 23, 2018: U.S. imposed 25% tariffs on an additional $16 billion of imports Chinese goods, and China immediately retaliated with tariffs on U.S. exports in the same amount.

 

-September 24, 2018: U.S. imposed tariffs on approximately $200 billion worth of Chinese goods, including many everyday consumer products like electronics and housewares. China again retaliated with tariffs on another $60 billion of American-made products.

 

-May 10, 2019: U.S. increased tariffs on approximately $200 billion worth of Chinese goods from 10% to 25%.

Coming in May 2019: The U.S. is proposing to levy tariffs of 25% on all goods imports from China not yet subjected to Section 301 tariffs (valued at approximately $325 billion).

 

 The aim of the trade negotiations is to get China to agree to stop stealing intellectual properties from U.S. companies, stop forcing technology transfers, open their markets and give U.S. companies the same access to their markets that Chinese companies have to U.S. markets, remove all tariffs and play by the rules.

 

For multinational corporations, farmers and chemical manufacturers China represents a lucrative market and hence they will mostly be impacted by the tariffs.  However, many businesses have begun to look elsewhere for suppliers and manufacturers for their products and to find other markets to expand to.

Sources:
U.S. Trade Representative
U.S. Department of Agriculture (USDA) Foreign Agricultural Service

By Bill Williams

 

 

 

 

 

 

 

 

 

 
 

 

  
 

SBZ Home

News Home

Extra News Home

  

  

     
INTERNET MARKETING

                  Report broken links               Contact us              About us           Become a Contributor to this site            Link Exchange 

© 2012-2015 The Small Business Zone, Inc.  All rights reserved.