Tariff Update: Week 1
Following the first official changes this past Sunday, the impacts of said tariffs are already affecting people everywhere.
- The costs of tariffs are likely to impact people who can least afford it.
- The Chinese goods targeted in the tariff hikes are typically bought by lower and middle class Americans
- Per Business Insider, “The latest round is also expected to disproportionately affect women.”
Regulatory Savings vs. Economic Costs of Recent Tariff Penalties
| Regulatory savings from Jan. 20, 2017 through June 30, 2019 | Dead loss of tariffs imposed by Dec. 31, 2019 | Dead loss annually with 30% tariffs on all Chinese products in addition to current tariffs | Dead loss annually if all tariffs are implemented in addition to current tariffs |
|---|---|---|---|
| $46.5 billion | $32.1 billion | $77.9 billion | $121.1 billion |
Source: National Foundation for American Policy summary of effects of tariff costs and regulatory savings. A dead loss is a burden on the overall economy. Note: A report from OMB in 2019 or 2020 will indicate whether or to what extent there have been additional regulatory savings after June 30, 2019.
China responded by both filing a complaint with the WTO, raising tariffs on $75 billion worth of US goods and, for the first time ever, putting a 5% tariff on crude oil. It’s obvious that a resolution is needed. In the meanwhile, if storage is a necessity to get your products on shore before more penalties arise – we’re fully equipped to handle it. Contact us for more information on how our services can help your company save and prepare for the on-going tariff war.
The need for flexible and scalable warehouse solutions is growing as manufacturers try to meet rising industry challenges and consumer demands. It is increasingly becoming important for our clients to eliminate waste, reduce shipping costs, shorten inventory lead times, and improve overall quality in the delivery of their products. Companies often typically temporarily run out of warehousing space due to ebbs and flows of industry trends. Unilogic solves that issue by providing hundreds of thousands square feet at your disposal and the means to get your products towards its next or final stop.
Excepteur sint occaecat cupidatat non proident, sunt in quis officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaques ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem. Duis aute irure of dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laboru. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem the aperiam, eaque ipsa ab illo inventore veritatis et quasi architecto beatae vitae dicta explicabo.
Nemo enim ipsam of voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem.
Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem the aperiam, eaque ipsa ab illo inventore veritatis et quasi architecto beatae vitae dicta explicabo. Nemo enim ipsam of voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem.
