US businesses paid 'unprecedented' $4.4B in tariffs in September
In September 2018, US businesses paid an unprecedented $4.4 billion in tariffs. This was a 54% increase in payments compared to September of 2017 and was combined with a large reduction in exported goods due to retaliatory tariffs being imposed. The 10% tariff on over $200 billion in Chinese imports will rise to 25% in January which will likely continue to cause US businesses to try to find cost cutting solutions or the added expense will be passed on to the customer.
Read more at Supply Chain Dive.
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