Tariff Alert - Update
Moments ago, President Donald Trump tweeted new information regarding the Phase One trade deal.
Members need to read the following carefully, as the agreement announced last night has changed significantly.
As part of the Phase One trade deal:
- Tariffs on Lists 1-3 will remain at 25%
- Tariffs on List 4A will be reduced by half to 7.5%
- Tariffs on List 4B, originally scheduled to take effect on Sunday, are cancelled
The U.S. will immediately begin negotiating the second portion of the trade deal in hopes of further reducing the additional tariffs.
Stay tuned as this situation continues to evolve.
Michael Weems
Vice President, Government Engagement
American Lighting Association
