Tariffs on LED Panels to remain at 10% and will not increase on January 1, 2019.
The relationship between the American and Chinese governments have been very shaky in the last few months, but an important agreement was announced this December:
On December 1, 2018 President Trump and his Chinese counterpart Xi Jinping announced a 90-day pause on new tariff actions that were planned to take effect January 1, 2019. These tariff would have had a major impact on the American LED panel industry, which sources the great majority of its products from China.
A pause, but not the end of the story…
While the initial plan to increase tariffs to 25% in January 2019 is paused for 90-days, this does not mean that these new tariffs will not be implemented further into the future. This landmark agreement between the US & China is a temporary relief, but it is by no means the end of the story. As tension shifts between the two countries, it is necessary for the all the players of the LED panel industry to remain well informed and to prepare for the impact of global politics onto the business world.