WASHINGTON (BRAIN) — The U.S Trade Representative has granted tariff exclusions to two more categories of kids bikes from China. Combined with other exclusions granted late last year, now all bikes with wheels from 12-inch through 24-inch diameter are exempt from the tariffs imposed by the Trump administration in September 2018.
The additional tariff on those bikes was 25%, it now reverts to the 11% tariff in place before the administration’s trade war with China.
Several importers and trade groups had requested the exclusion, which was dated Dec. 31, 2019. The exclusion means importers should be able to recover the additional tariffs they’ve been paying.
Alex Logemann, policy counsel for PeopleForBikes, said, “We are very pleased that these new exclusion requests have been granted and will provide complete relief for kid’s bikes from the Section 301 tariffs. We estimate that the three collective kid’s bikes exclusions will enable the industry recover more than $62 million dollars in tariffs that have already been paid, and they could be worth more than $100 million over the next year if the tariffs remain in effect.”
Arnold Kamler, …read more