The United States and China announced a partial trade deal on December 13, 2019. In exchange for Chinese agricultural purchases and assurances they will address trade issues such as intellectual property protections and currency policy, the United States held off implementing tariffs on additional Chinese goods on December 15.
Specifically, the agreement included the following pledges:
- The United States agreed not to impose tariffs on products from China that were scheduled to begin on December 15. The Administration also rolled back from 10% to 7.5% tariffs that were imposed on September 1, 2019. Although we do not believe these tariffs had targeted recycling machinery and equipment (excluding shredder wear parts, which remain excluded), there may be equipment used generally in business operations that are assessed these tariffs.
- China agreed to consider not imposing retaliatory tariffs on U.S. imports due to begin on December 15, which was to include certain recovered paper, cullet, copper scrap and cadmium scrap. And, indeed, the tariffs were not imposed.
Furthermore, the United States did not modify or remove the 25% import duties imposed in 2018 nor did China remove retaliatory tariffs.
ISRI released a public statement welcoming the progress in trade talks between the United States and China, and we look forward to additional steps that could lead to both countries removing more tariffs in the near future. ISRI continues to work with members of the Administration and members of Congress about the implications these tariffs, and China’s retaliatory actions, have had on the industry.