Another blow for leather
28/08/2019
This follows the Office of the US Trade Representative announcement this month that it would levy 10% tariffs on an additional $300 billion in Chinese imports to the US.
The US Hides, Skins and Leather Association (USHSLA) has said the majority of US hides and skins exports to China are targeted for a 5% tariff increase from December 15.
This comes as another blow to tanners and the leather industry, particularly those focused on the footwear sector, which have struggled to compete against plastic alternatives over the past couple of years. Many footwear companies turned away from leather when the price skyrocketed five years ago; while prices have fallen substantially, business has not returned.
“Meanwhile, the US responded to China's retaliation by announcing existing tariffs on $250 billion in Chinese imports would rise from 25% to 30%, effective October 1. Tariffs planned for September 1 on $300 billion worth of Chinese goods would increase from 10% to 15%,” said USHSLA.
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