19 May 2024
The race to export goods to the US to avoid import taxes 2

The race to export goods to the US to avoid import taxes 2

The trade war is pushing businesses into a race to deliver goods, both on sea and in the air.

E.D.

On September 24, new US taxes on imports from China will take effect.

A container ship is unloading cargo at a seaport in Oakland (USA).

Hyundai Merchant Marine’s fleet leaving China for the US is loaded with goods.

From September 24, the US import tax applied to 200 billion USD of goods from China is 10%.

The race to export goods to the US to avoid import taxes

10,000 items subject to tariffs in the US-China trade war

10,000 items subject to tariffs in the US-China trade war

Mr. Trump also threatened to tax another $267 billion in goods from China.

In Dong Hoan, toy manufacturer Lung Cheong – a supplier to Hasbro (USA) is also busy with production.

Seaports in the US are therefore equally busy.

Last week, freight rates from Shanghai to Los Angeles rose to more than 2,360 USD for a container longer than 12 meters.

“We are witnessing a race with import taxes,” commented Rahul Kapoor – analyst at Bloomberg Intelligence.

Ralph Bradley – CEO of a small car light manufacturer in Texas (USA) is waiting for more than 300,000 USD of products from China.

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