President Trump said on Friday that tariffs on another $267 billion in Chinese goods are ready to go and could be rolled out on short notice, signaling no end in sight for the growing trade dispute.
Speaking aboard Air Force One en route to Fargo, N.D., Mr. Trump said the tariffs would be in addition to the $200 billion in tariffs on Chinese goods the administration has been preparing, which he said will “take place very soon, depending on what happens.”
“I hate to say this, but behind that there is another $267 billion ready to go on short notice if I want,” he added. “That changes the equation.”
If you import from China and you didn't face a tariff before -- you will when these tariffs are enacted. Plus, China is likely to respond with addition tariffs or other counter-measures in response. So, if you sell to China, your goods will probably face a tariff. This is just the direct impact of tariffs. Don't forget about exchange rate and other factors that will impact your business.
Is your business ready? These new tariffs could be in effect before the end of 2018. There is a not a lot of time to prepare and make adjustments, but getting your business in order is critical.