Losers outstrip winders by 2.4 to 1, news by Hebei Longsheng metals and minerals
| Losers outstrip winners by 2.4-to-1 as tariff exemption process grinds on The U.S. Trade Representative has now received 11,565 requests for exemptions from the 25% duties on Chinese exports applied in July and August as part of the section 301 review of Chinese IP practices. Companies facing 10% duties from September are unlikely to get the chance of an exemption during the period in which talks, initiated by President Donald Trump and President Xi Jinping, are ongoing. So far 612 requests have reached the final stage before approval while 1,487 have been rejected out right. One of the late filings ahead of a deadline of December 18 came from Sulzer which has requested a reprieve for its fuel pump components and assemblies. China accounted for 53.7% of all of Sulzer’s pump division’s U.S. imports in the 12 months to Oct. 31. One of the big winners has been Illinois Tool Works which has had 34 requests reach the penultimate stage of approval for supplies of LEDs, AC switches / relays and process control instruments. That’s vital given 81.6% of the firm’s total U.S. seaborne imports were sourced from China in the past 12 months. |
