tariffs

“Tariff engineering is fascinating. Take Converse Shoes: a fuzzy fabric covers large sections of the sole, but it’s not for fashion reasons. The placement of the fuzzy material classifies the shoe as a slipper, which has a much lower import duty (<5%) than for wholly rubber sole…”

U.S. Treasury Secretary Janet Yellen said the United States expected China to meet its commitments under the Phase 1 trade deal signed under former President Donald Trump, but could look at eventually lowering some tariffs in a reciprocal way.