China, Trump and Tariffs

Tariffs announced by the Trump administration to be placed on $50 billion of Chinese imports to the United States will affect port equipment. The reasoning behind the administration for these tariffs is to level with Chinese, since they have treated the investors and companies of the United States unfairly. The 25% tariff increase would be placed on top of existing tariffs on about 1,300 Chinese goods. The placing of the tariffs would be according to a class of goods under the Harmonized Tariff Schedule of the United States. The trade representative released a list of all the goods the tariffs would apply to. And according to WorldCargo News, these are the items: reach stackers, forklifts, straddle carriers, and certain spare parts.

Cranes are goods that fall under 8426 HTS Code which includes all types of cranes. Some of the cranes are listed in the tariff proposal HTS code which are detailed below:

  • 84261100 Overhead traveling cranes on fixed support
  • 84261200 Mobile lifting frames on tires and straddle carriers
  • 84262000 Tower cranes
  • 84264100 Derricks, cranes and other lifting machinery nesi*, self-propelled, on tires
  • 84264900 Derricks, cranes and other lifting machinery nesi, self-propelled, not on tires
  • 84269900 Derricks, cranes and other lifting machinery nesi

A public hearing will take place o May 15, 2018 which will be open to the American public for comments. And if the tariffs are put into effect, the Chinese manufactured port equipment will be greatly impacted by these changes.

When shipping your cargo always make sure to have the best insurance coverage and policy for your shipment. At Ramon Insurance we provide clients the best rates, services, and coverages every time guaranteed.

By Iris Arden (Ramon Inc.)


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