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Trump extends deadline to raise tariffs on Chinese goods, cites progress

Third round of US tariffs on Chinese goods will impact the HVACR industry, says AHRI

| | Feb 26, 2019 | 10:10 am
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Arlington, Virginia, USA, 26 February 2019: On February 24, Donald Trump, President, USA, postponed the impending March 2 increase for tariffs on select Chinese products, citing “substantial progress” in negotiations, AHRI said in a Press communiqué. No new date for the tariff increase was established, the communiqué further said.  On March 2, the third round of Section 301 tariffs, worth USD 200 billion in goods, were set to increase from 10 to 25%, the communiqué also said. Section 301 tariffs are part of the Administration’s strategy to address concerns about “China’s acts, policies, and practices related to technology transfer, intellectual property and innovation,” the communiqué added.

Press reports indicate an agreement between President Trump and President Xi to meet at Mar-a-Lago, Florida, in late March, the communiqué said.  President Trump has referred to plans to conclude an agreement during this meeting, but separately has also communicated that a deal “might not happen at all,” the communiqué further said.

According to AHRI, reports also indicate that as many as six different agreements could result from negotiations, including:

  1. Forced technology transfer and intellectual property protections
  2. Non-tariff trade barriers
  3. Cyber intrusions and cyber theft
  4. Services
  5. Currency
  6. Agriculture

The third round of tariffs affect a variety of AHRI member products including refrigerants, heating equipment, ventilation and components, air conditioners and cooling equipment, refrigerators and freezers, vending machines, humidifiers and dehumidifiers, the communiqué said.

According to AHRI, the full list of member products affected can be seen here and more information can be found in AHRI’s Tariff Tracker.

 


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