Though the U.S.-China tariff pause has provided U.S. import businesses with a reprieve, many are still struggling to create long-term growth strategies in the current environment, experts say.
Reed Smith Global Regulatory Enforcement Group Chair Michael Lowell told SeafoodSource that the current situation is “just a lesser-of-two-evils scenario.”
“Importers of Chinese-origin goods have faced 7.5 percent to 25 percent tariffs – and sometimes higher – since the first Trump administration,” Lowell said. “Then, the president added on a 20 percent tariff on all Chinese-origin imports, plus the reciprocal tariffs announced in April. These additional tariffs are still creating challenges for U.S. businesses.”
A tariff pause, Lowell said, still represents “another shift in policy that businesses have to account for when determining how to source and price their products.”
Justin Angotti, an associate in the Reed Smith Global Regulatory Investigations and Enforcement Group, added that he has seen members of nearly every U.S. import sector struggle to develop long-term strategies to cope with, or even capitalize on, the new tariff policy.
Like Lowell, he said that since the first Trump administration, his clients have been focused on ...
