Jewelry Excluded from China Tariff Delays

RAPAPORT... Jewelry imported into the US from China will attract an extra levyof 10%, despite the Trump administration's decision to postpone tariffs onother goods due to the upcoming holiday season. While certain health-and-safety products are being removedfrom the prospective tariff list, other items - including toys, computer equipment, video games andclothing - havereceived a temporary reprieve, the US government said Tuesday. Taxes on those items will be deferred until December 15, sothat retailers can stock up ahead of Christmas. However, jewelry has not beenincluded on the list. Goods such as diamonds, gemstones and precious metals,including gold and silver, will still be subject to tariffs according to theprevious schedule, the US Trade Representative (USTR) noted. Last fall, when the initial tariffs were announced, morethan 100 trade associations, including the National Retail Federation (NRF),joined together to launch the Tariffs Hurt the Heartland campaign, which tracksthe impact of the duty. According to a study conducted for the campaign, UScompanies paid $2.1 billion in tariffs on Chinese products in November 2018alone, up from $363 million the year before, the NRF noted. "While we are still reviewing the details, we are pleasedthe administration is delaying some tariffs ahead of the holiday season andacknowledging the impact on American consumers," said David French, NRF seniorvice president for government relations. "Still, uncertainty for US businessescontinues, and tariffs taking effect September 1 will result in higher costsfor American families and slow the US economy." The USTR needs to use the delay period to develop aneffective strategy to address China's "unfair" trade practices, French stressed,adding that such a strategy should not include imposing unilateral tariffs that"cost Americans their jobs and hurt consumers." Image: An in-store jewelry display. (Hadrian/Shutterstock)