Tariffs, Taxes Top JA Washington Agenda

RAPAPORT...A delegation from Jewelersof America (JA) has met with US lawmakers and congressional staff to discuss trade and tax concerns affecting its members. Themeeting, which took place on Capitol Hill in Washington, DC, on June 19, was led by theJewelers of America Political Action Committee (JAPAC). It was the ninth in aseries of annual advocacy "fly-ins" by the committee. Theevent covered topics such as the ongoing US-China trade war and potentialimport tariffs on Chinese jewelry products and materials. It was attended by 10politicians from across the US, including Republican Senator for Arkansas TomCotton. Lastmonth, Cotton was one of four cross-party politicians to introduce the newEquitable Act to Congress - a bill that seeks to increaseoversight of Chinese and other foreign companies listed on American exchanges. Otherissues discussed during the fly-in included sales-tax fairness, for which JA hasbeen lobbying over decades in an effort to level the playing field betweenbrick-and-mortar and online jewelers. TheJA saw the June 2018 US Supreme Court decision to overturn a 1992 ruling -which did not require online sellers to pay sales tax - as a positive step. However,it has continued to petition for further changes nationally, including apotential federal framework for online sales-tax collection. "Jewelersof America has made a great deal of progress advocating for issues that affectindependent jewelers, like sales-tax fairness," said JA CEO David Bonaparte."But there is still work to be done and JA is focused on keeping the industry'sneeds front and center on Capitol Hill."Image: Jewelers of America representatives at the United States Capitol. (Jewelers of America)