We know our business is helping logistics professionals find their perfect position as we find the perfect candidates for open logistics positions, but even in a tertiary support industry, we can’t help pay close attention to what market forces are doing between the two behemoth nations. These issues aren’t just for customs brokers and freight forwarders; they impact how jobs will become available, if a global recession may start, and how rates and mergers will still take place if the trade winds are turned on their head by policy.
It’s almost impossible to be involved in the logistics industry and not be constantly reminded of the ever-escalating tariff tit-for-tat going between the United States and China. For everyone struggling to separate fact from rhetoric, we’ve decided to create a short timeline of events to keep everyone up to date as news unfolds.
- August 1st – President Trump tweets that a 4th list of tariffs up to 25% will be applied to the remaining imports from China $250 billion, to be effective September 1, 2019.
- August 13th – The USTR announces the tariffs will be split into List 4A and List 4B with some consumer good not going into effect until December 15th to avoid the holiday shopping season.
- August 23rd – The Chinese retaliate with tariffs against $75 billion in goods imported from the US.
- August 23rd (later in the day)- President Trump advises the current tariffs against virtually all imported Chinese good will increase by 5% on October 1, 2019. Goods on List 4A and List 4B will be at the +5% rate when they start on September 1st and December 15th, respectively.
We could dedicate an entire site to cataloging the issues and responses that have flown back and forth during the past year. In fact, Market Insider shows that they’re starting the escalation in March of 2018, which makes an eighteen month long ride on the tariff express.
We will keep you posted as to how these issues impact the labor market and are standing by to help you find a great the job of your dreams or the candidate who best fits your organization. Feel free to reach out and talk to us.