U.S. Customs Duty Haul Set To Fall By Just 10% After Phase 1 Trade Deal — Panjiva
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U.S. Customs Duty Haul Set To Fall By Just 10% After Phase 1 Trade Deal

China 2965 Tariffs 1787 Trade Deals 999 U.S. 5310

The U.S. Treasury Department has reported a 10.4% year over year increase in customs duties in November, bringing to total haul from tariffs that month to $6.94 billion. Panjiva’s analysis shows the value of duties on Chinese imports under the section 301 program reached $4.89 billion, roughty unchanged from a month earlier. The newly announced phase 1 trade deal will cut that figure by just $680 million, cutting total duties by 9.8%. The impact of tariffs on American consumers and businesses has been mitigated by deflation in prices for imports from China. That’s remained roughly unchan...

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