Port officials said there has been a 44% drop in docked vessels due to the tariff war between China and the U.S. But in a matter of weeks–that could change. Starting Wednesday, the 90 day tariff reprieve begins. Over the weekend, the U.S. agreeed to cut its 145% tariff on Chinese goods to 30%. The dramatic de-escalation means retailers are working against the clock to bring in Christmas inventory. Vince Sims has the story.
Dallas Market Center is a major hub for vendors with more than a thousand showrooms.
Tariffs impact many of the business’s products.
Watch 온라인카지노사이트 5 free wherever you are
"All of it comes from Asia, different parts of Asia, but about 80% from China," Scott Twesme, president of Direct Export, said. He and 2,500 other business owners signed a petition, started by , asking for a 90-day pause on tariffs.
"The 90 days is critical,” Dallas Market Center President and CEO Cindy Morris said. “Because right now we have the fall goods, Halloween, Thanksgiving, Christmas goods that need to get on the water to get here in time for the holidays."
Get top local stories delivered to you every morning with 온라인카지노사이트 DFW's News Headlines newsletter.
Morris and Twesme are glad the 90-day pause came through.
"I was glad that the presidents of both countries decided to make an agreement together,” Twesme said. The tariff was lower than I thought it would be. I would still like zero, but 30 is better than 145."
But this is a temporary solution.
Local
The latest news from around North Texas.
"We all have to plan for the future,” Morris said. “We have that 90-day window, but then we have to work beyond that."
That future plan must include the next likely challenge.
"There's a real concern that when July, end of June, July, August, come around, when those factories have ramped up and that product is then starting to ship, are those containers in the right place, and what's going to happen to the pricing?" Morris questioned.
Shipping prices can fluctuate with demand.
"Normally, the ocean freight companies take advantage of this kind of situation, and double and triple, sometimes quadruple the price per containers,” Twesme said. “So, we're waiting and working with our partners to see where that's going to land."
Their worries still don't end once products arrive at U.S. ports.
"There's only so much that the dock workers and the ports can take at one time, and now you've got the whole country, United States, scrambling to get product,” Twesme said. “So yeah, there are going to be some delays. We just won't know what they are until we know."
