The United States will not raise the tariff rate on $200 billion worth of Chinese products to 25 percent on January 1, 2019 as previously planned, according to a statement from the White House. Tariffs will remain at the current 10-percent rate imposed on September 24, 2018 for at least 90 days. The update came after a sideline meeting between President Trump and Chinese President Xi Jinping at the G20 Summit over the weekend in Buenos Aires. The president called the meeting “highly successful.”
In return for the halt on a tariff rate increase, President Xi has agreed to purchase a yet to be decided upon “very substantial” amount of agricultural, energy, industrial and other products from the U.S. According to the White House statement, the purchases will “reduce the trade imbalance between our two countries.”
The two leaders agreed to begin negotiations on forced technology transfers, intellectual property protections, non-tariff barriers, cyber intrusions and cyber theft. The president cited forced technology transfers and a lack of intellectual property protections as reasons for the tariffs. Both parties agreed to try to complete the negotiations within the next 90 days or the 10-percent tariffs will be increased to 25 percent, according to the White House.
Glass- and glazing-related materials on the list of products subject to the tariff include:
- Various float glass products;
- Glass mirrors;
- Glass frit;
- Laminated safety glass;
- Glass in the mass of fused quartz or other fused silica; and
- Enamels, glazing, pigments, colors and lusters for the glass industries.
Base metal door closers suitable for buildings, base metal automatic door closers and base metal parts are also affected. Base metal, other than iron, steel, aluminum or zinc, mountings and fittings suitable for buildings are also included in the tariffs.