crazy! Impose 60% tariff on China! Time is running out...
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Customs brokers are warning that U.S. importers, suppliers and logistics providers may face a scramble to respond to more tariffs coming from the new administration.
President-elect Donald Trump appears determined to impose tariffs on U.S. imports, and those tariffs may be implemented sooner than expected, said Adam Lewis, president of Clearit Customs Brokers.
"The timetable for implementation could be as tight as just a few weeks," he warned.
Adam Lewis previously believed that the threat of tariffs was mainly a tactic to induce trading partners to come to the negotiating table, and that the implementation of tariff policies usually requires months of preparation. However, his views changed after attending a recent National Customs Brokers and Freight Forwarders Association (NCBFAA) conference.
NCBFAA cited sources within the new administration who said the tariff threat was not a bluff.
It is said that the new government plans to impose 10% to 20% tariffs on almost all imported goods, impose tariffs of up to 60% on Chinese imports, and impose 100% tariffs on goods from any country that abandons the U.S. dollar as its reserve currency.
Adam Lewis added: "What we are facing now is a comprehensive 'nuclear option.'" He said Trump may use special legislation to speed up the implementation of tariffs. The NCBFAA meeting mentioned the International Emergency Economic Powers Act, which would allow tariffs to be implemented quickly, bypassing Congress' lengthy negotiation process.
The International Emergency Economic Powers Act, enacted in 1977, authorizes the President of the United States to intervene in international commerce after declaring a national emergency to respond to any unusual and extraordinary threat to the United States that originates in whole or in part outside the United States. Condition. The act was first used by the Carter administration during the Iran hostage crisis.
Similarly, Brandon Fried, executive chairman of the American Air Cargo Association (AfA), expressed similar concerns. He noted that his first term in the White House had a protectionist agenda.
"I think his comments about tariffs have to be taken seriously," said Brandon Fried. "There's reason to expect that he will take similar actions, especially against China and trading partners with whom he has disagreements."
"We agree with the NCBFAA and advise our members to take these commitments seriously and be fully prepared," he added. "
To this end, the American Air Cargo Association (AfA) is urging its members to discuss supply chain strategies and tax refund issues with customers and ensure they have the right product definitions.
Brandon Fried also emphasized that manufacturers also need to pay close attention to this matter, suggesting that they take active action, review the supply chain, clarify the source of goods, and develop alternative plans. In addition, he also proposed that the classification of goods should be re-evaluated.
Although the American Air Cargo Association (AfA) is opposed to tariffs, believing that they will increase costs and may lead to retaliatory measures, further hindering trade flows, Fried vividly said: "It is like a high-speed train, it is difficult to easily Avoid."