Tariff update: Trump and China reach agreement
The two presidents will continue negotiations over intellectual property practices, and for now, won't raise tariffs.
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President Donald Trump’s truce with China is welcomed news in the outdoor industry.
During a dinner on Saturday, Trump and Chinese President Xi Jinping agreed to hold off on raising tariffs on each other’s goods come January while they continue to negotiate intellectual property policies.
For many outdoor brands, the 10 percent tariffs on goods imported from China is still a heavy burden, but not as devastating as 25 percent. Many outdoor brands have told SNEWS that addressing IP issues—which have led to knockoffs—is also important, though punishing China with tariffs hurts rather than helps American business.
“Today’s agreement between U.S. President Trump and Chinese President Xi is welcome news for American consumers and outdoorists of every stripe,” Outdoor Industry Association Executive Director Amy Roberts said in a news release. “OIA will continue to press the case that thousands of large and small retailers and manufacturers of outdoor products play a significant role in bolstering the U.S. economy and that U.S. trade policies should serve to help them continue to innovate and prosper.”
However, if within the next 90 days the two leaders do not reach an agreement on “structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture,”, the tariffs could rise to 25 percent.
Among those fighting back is the Snowsports Industries America, which joined more than 140 other trade organizations in urging the president not to slap on more tariffs.
