US President Donald Trump has agreed with his Chinese counterpart, Xi Jinping, not to introduce further tariffs on Chinese imposts to the country worth $300 billion, including on cycling-related products not already subject to additional tariffs.
Trade publication Bicycle Retailer says that the pair reached agreement for the US not to impose further tariffs during a meeting at the weekend’s G20 summit in Osaks, Japan.
Products that would have been affected include cycle helmets and lights – previously excluded from tariffs for safety reasons – as well as balance bikes and certain components and accessories on which additional tariffs have previously been imposed.
Bicycle Retailer added that imposition of further tariffs on those categories of goods had been vigorously opposed by the US bicycle industry.
Trump confirmed however that earlier tariffs would remain in force – including a 25 per cent additional tariff on goods including bicycles imposed in May which led the chairwoman of Giant Bicycles, the world’s biggest bike manufacturer, says that the “made in China” era is over.
As we reported last month, the company, which sells more than 6 million bicycles a year, had already closed one factory in China and as a result of the latest additional tariffs has decided to produce bikes for the US market elsewhere.
Last month, Arnold Kamler, the CEO and chairman of the second largest bike manufacturer in the US, New Jersey-based Kent International, likened the additional tariffs to “a punch in the gut."
He said that an existing additional tariff of 10 per cent had caused the company’s costs to rise by 7.5 per cent with sales falling by 5 per cent and that the latest hike would mean another increase in prices to consumers.
"While there are disputes that need to be resolved between our countries on trade, I'm wondering why our company is the one having to pay the price for this," he added.
Concerns were also expressed by Bob Megvicius, a director of the Bicycle Product Suppliers Association and vice-president of Specialized.
"We are concerned coming into the Christmas and the holiday season that this can hurt business,” he said.
He added that 90 per cent of US bicycle imports annually originate in China – some 14-15 million units – but due to tariffs, 450,000 fewer bicycles were imported to the country in the first quarter of 2019.
There's some interesting stories on the Manifesto Club website - Road safety campaigner banned from filming in Ealing
Not sure that's true in this case. As noted in the article, there've been protests there against all kinds of tourism recently, not just the...
I see that what I should have written is that good quality outers are necessary - the split ones were the originals on a bike which only cost £650...
I've no idea what the situation is here, but I've seen plenty of "under construction" cycle lanes where there are only signs/barriers around the...
whereas the whole point is that they didn't hit you this time
AIUI an entering-circulating accident [sic] would be when the vehicle entering the roundabout fails to give way to the vehicle circulating.
Which is great - but you can only take a bus which exists eg. is going somewhere near where you want to go, when you want to go....
Erm, does someone need counting lessons?
My cannondale SuperSix gen3 frameset i recently bought has a sticker saying: made in China. Dont know about the newest models.
Cos style, and did you not read it only weighs 158g!...