Jacob Rothman, who has been making kitchenware in China sold by US retailers including Walmart for more than two decades, was “shocked and elated” when Washington and Beijing reached a truce in their tariff war.
But the co-founder of Velong Enterprises said the deal, under which the US agreed to slash additional tariffs on Chinese goods from 145 per cent to 30 per cent for 90 days, offered little more than a temporary reprieve.
“It’s exactly the percentage that keeps my categories of product viable,” said Rothman of the level of US tariffs on Chinese imports, which is now about 40 per cent. “We’ve gained a bit more breathing room . . . beyond that, it’s uncertain.”
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