Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Tariffs on Chinese Jewelry to Begin September 1

US excludes category from list of products getting reprieve from 10% levy.
Aug 14, 2019 7:56 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Jewelry imported into the US from China will attract an extra levy of 10%, despite the Trump administration’s decision to postpone tariffs on other goods.

While certain health-and-safety products are being removed from the prospective tariff list, other items — including toys, computer equipment, video games and clothing — have received a temporary reprieve, the US government said Tuesday.

Taxes on those items will be deferred until December 15, so that retailers can stock up ahead of Christmas. However, jewelry has not been included on the list. Goods such as diamonds, gemstones and precious metals, including gold and silver, will still be subject to tariffs from September 1, in line with the previous schedule, the US Trade Representative (USTR) noted.

Last fall, when the initial tariffs were announced, more than 100 trade associations, including the National Retail Federation (NRF), joined together to launch the Tariffs Hurt the Heartland campaign, which tracks the impact of the duty. According to a study conducted for the campaign, US companies paid $2.1 billion in tariffs on Chinese products in November 2018 alone, up from $363 million the year before, the NRF noted.

“While we are still reviewing the details, we are pleased the administration is delaying some tariffs ahead of the holiday season and acknowledging the impact on American consumers,” said David French, NRF senior vice president for government relations. “Still, uncertainty for US businesses continues, and tariffs taking effect September 1 will result in higher costs for American families and slow the US economy.”

The USTR needs to use the delay period to develop an effective strategy to address China’s “unfair” trade practices, French stressed, adding that such a strategy should not include imposing unilateral tariffs that “cost Americans their jobs and hurt consumers.”

Image: An in-store jewelry display. (Hadrian/Shutterstock)
Tags: China Tariff, David French, National Retail Federation, NRF, Rapaport News, tariffs, Tariffs Hurt the Heartland, US Trade Representative, USTR
Similar Articles
Tiffany Beijing storeLVMH Replaces Tiffany CEO as Deal Closes
Jan 07, 2021
LVMH has shaken up Tiffany & Co.’s senior management after...
US Online Holiday Jewelry Sales Jump
Titan Revenue Buoyed by Wedding-Jewelry Sales
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us