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U.S to Review China Tariffs

Kris Wassell • May 06, 2022

The future of China tariffs is up for discussion in the United States

U.S Trade Representative Katherine Tai said that reducing the U.S tariffs on imported goods from China in one of many options that could be considered to assist in reducing inflation which had increased at a 41-year high of 8.5% between March 2021 – March 2022.

Tai has cautioned that the U.S administration does not want to make decisions fighting inflation that may damage trade relations with China in the long run. The Wall Street Journal reported that Treasury Secretary Jenet Yellen and Commerce Gina Raimondo favour rolling back tariffs, while Tai and others are weary that by rolling tariffs back, the U.S may lose leverage over China in their initiative aimed at reforming China’s economic behaviour. 

Tai’s office announced that it’s commencing a mandated review of the first group of tariffs on China-made goods, which could involve an analysis if they should keep the levies as they are, reduce them or remove them. The majority of promo products sold in the $23.2 billion North American industry are produced in China. Current tariffs on promo imports, including apparel and hard goods have contributed to price increases on industry-sold products in recent years. 

According to data from the U.S. Census, total U.S. imports from China reached $538.51 billion in 2018. The figure dropped to $450.76 billion in 2019 and fell further again in 2020 to $434.75 billion. Despite tariffs and supply chain disruption, U.S. imports from China rose in 2021, reaching $456.83 billion. If the tariffs change, a reduction may also help in lowering promotional product costs in Canada. 

By Kris Wassell 11 May, 2023
Benefits of Promotional Products Promotional products are a top marketing resource which offers a variety of benefits for your company. Whether your marketing goal is creating new business opportunities, showing appreciation to current customers, or spreading brand awareness, in today’s digital world, physical marketing materials are a great way to stand out in a crowd and a great reminder that your business is willing to make a personal connection. Promotional products will also offer your potential clients and customers a tangible keepsake to remind them of your brand. When purchasing or choosing your promotional products, it is important to remember that the quality of your promotional products speak to the quality of the products or services your company offers. What are Promotional Products? Promotional products are items branded with your logo, tagline, or slogan to promote and represent your brand, company, and services. Your promotional items can be distributed at trade shows, special events, when potential customers subscribe to your newsletter, at grand openings or holiday parties, during conferences or straight into mailboxes. These products are a great way to be seen multiple times a day by multiple people. Make it easy for your potential clients to contact you by adding your phone number, email, or website information on your promotional products. Why Do You Need Promo Products? Promotional marketing maintains brand consistency, while also helping your company stand out in the industry. Here are some of the benefits for your business. Spreading Brand Awareness Branded promo items have the potential to be seen by hundreds of people. Whether you hand them out to an individual or a team, your brand name and slogan will be noticed far and wide. Promo products can reach hundreds of potential customers and studies have shown that they are kept for up to a year or longer. With thousands of products available, you can also choose products that are unique and help your company really stand out with customers. Forming New Customer Relationships Consumers are more likely to have a favourable impression of a brand that gives them a promotional product. Once you establish that initial connection, those same people are more likely to remember your business and feel inclined to work with you. It helps establish a relationships, builds trust, and gives the opportunity to start a conversation with prospective customers. Continuous Advertising Offering promotional products such as pens, notepads, mugs, or other items that are used on a daily basis, meaning that your company name or logo will be seen often. This paves the way for continuous advertising, which you only had to pay for one time. Want to learn more about how TSG Branded Solutions can help you with promotional marketing that aligns with your business strategy and branding, contact us today to start the conversation!
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