The Chinese and United States governments have had a long back and forth concerning import tariffs for an increasingly broad range of products from both countries. In early August, the U.S. announced an additional 10% tax on $300 billion of Chinese-imported goods, the bulk of which went into effect on September 1st. China reacted to this news with its own tariff, a 5 to 10% increase on $5 billion worth of products coming from the U.S.
It’s unclear when the trade war will reach an end. While the two sides are still talking to each other and exploring options, each also continues to increase both taxes and the list of items to which they apply. The next cycle of tariffs is set to go into effect on December 15th. In addition to these measures, China also said it is prepared to sue the United States in regards to import tariff actions.
With no resolution in sight, the best course of action for companies across all industries is to make use of domestic vendors wherever possible to avoid extra fees. However, EPA regulations can make this idea difficult to apply for certain products.
Innvision Hospitality is committed to finding cost-effective solutions for hoteliers that minimize the impact of tariffs. Our strong vendor relationships with many domestic producers allow us the flexibility of options and competitive pricing for FF&E despite the current trade war with China. Contact us today to reap the benefits of our end-to-end procurement services and develop an FF&E tariff strategy.