In recent months, there has been a war of words between America and China. These words have been swiftly followed by actions, with Donald Trump initially introducing 25% tariffs on $34 billion worth of Chinese imports in July and China retaliating by placing tariffs on $60 billion of American goods.
Since then, there have been allegations thrown at the UN General Assembly and there are more trade-related conversations between the two countries. As this battle continues, it is worth considering what the fallout will be for businesses affected by these tariffs. What sectors are already feeling the effects and how much of an impact will there be?
What Tariffs Have Been Imposed?
To date, the Trump administration has imposed tariffs on $200 billion of Chinese goods covering thousands of goods. These include everything from fish and luggage to wood flooring and bathroom suites. This ultimately means that around half of the products sold to the US from China are subject to the new tariffs and apply to over $250 billion-worth of Chinese goods.
Within hours, China hit back with fresh taxes of between 5% and 10% on $60 billion of American goods. This covered a range of products, including chemicals, clothing and meat.
Ways to Import and Export
These soured relations between the two nations mean that international trade between businesses in these countries is already changing. While barriers are being put up between China and the US in terms of effective trade, there are particular industries that are having to adapt to these alterations.
The parcel industry, in particular, facilitates trade between the two. However, it is able to adapt to this and continues to efficiently deliver goods and produce across the borders.
The Parcel Process
With delivery companies sending items to countries around the world, there are courier services in place to ensure items get to where they need to be efficiently and on time, in spite of the current political climate. These parcel delivery specialists offer businesses the opportunity to book their slot quickly, utilise flexible international delivery options, and track the parcel’s journey.
What Next?
While businesses are waiting for the next phase of this trade battle, established courier services continue to offer an efficient international service. If you are a business trying to navigate the political minefield, here are some tips for how to send your products to where they need to go.
- Use a courier that uses quality tracking tech to follow your stock. Courier companies such as TNT are well-known for charting the progress of deliveries from start to end.
- If you are shipping from China to the US, be aware that there are strict inspections at the other end, so delays can be expected. This is less of an issue when you select a dependable courier service as established companies can give the day to expect your goods to be delivered.
- Opt for a reputable delivery company to ensure booking is smooth and can be traceable.
Are you finding there has been a shift in how you conduct deliveries since the trade war between America and China first began? What steps are you taking to combat the impact of the trade war?
