Author: Russell Brandom
The bicycle industry has a new tariff problem. A newly implemented round of tariffs will put a 10 percent tax on nearly all bike-related imports from China starting next week, a tax that rises to 25 percent at the end of the year. (Both are collected on top of a pre-existing 11 percent tariff on completed bicycles.) Thousands of business owners and bike riders mobilized against the tariffs, sending letters to Congress and comments to the US Trade Representative — but despite the lobbying, bicycle categories remained on the final list distributed Monday night. With more than 14 million bicycles imported from China last year, some groups estimate the tariffs could cost the industry $250 million in 2019 alone.
It’s a somewhat unexpected...
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Continue reading...
The bicycle industry has a new tariff problem. A newly implemented round of tariffs will put a 10 percent tax on nearly all bike-related imports from China starting next week, a tax that rises to 25 percent at the end of the year. (Both are collected on top of a pre-existing 11 percent tariff on completed bicycles.) Thousands of business owners and bike riders mobilized against the tariffs, sending letters to Congress and comments to the US Trade Representative — but despite the lobbying, bicycle categories remained on the final list distributed Monday night. With more than 14 million bicycles imported from China last year, some groups estimate the tariffs could cost the industry $250 million in 2019 alone.
It’s a somewhat unexpected...
Continue reading…
Continue reading...