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USA Reps- What are YOU Doing Go Forward?
- Thread starter SOLEX
- Start date
I ordered I bunch of watch parts from Raffles before the Tarrifs 
took place keep me busy with my builds .
took place keep me busy with my builds .
I received 2 packages from Raffles yesterday, ordered before The Tarrifs took place .
China and US just reached a new trade deal..no details yet tho.
Good news
Good news
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U.S. Announces China Trade Deal in Geneva
Secretary of the Treasury Scott Bessent: “I'm happy to report that we made substantial progress between the United States and China in the very important
www.whitehouse.gov
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LOL they announced a FRAMEWORK to talk about starting a trade deal. It's a nothing burger.
muiramas
Aristocrat
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Joint Statement on U.S.-China Economic and Trade Meeting in Geneva
The Government of the United States of America (the “United States”) and the Government of the People’s Republic of China (“China”), Recognizing the
www.whitehouse.gov
Joint Statement on U.S.-China Economic and Trade Meeting in Geneva
The White HouseMay 12, 2025
The Government of the United States of America (the “United States”) and the Government of the People’s Republic of China (“China”),
Recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy;
Recognizing the importance of a sustainable, long-term, and mutually beneficial economic and trade relationship;
Reflecting on their recent discussions and believing that continued discussions have the potential to address the concerns of each side in their economic and trade relationship; and
Moving forward in the spirit of mutual opening, continued communication, cooperation, and mutual respect;
The Parties commit to take the following actions by May 14, 2025:
The United States will (i) modify the application of the additional ad valorem rate of duty on articles of China (including articles of the Hong Kong Special Administrative Region and the Macau Special Administrative Region) set forth in Executive Order 14257 of April 2, 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining ad valorem rate of 10 percent on those articles pursuant to the terms of said Order; and (ii) removing the modified additional ad valorem rates of duty on those articles imposed by Executive Order 14259 of April 8, 2025 and Executive Order 14266 of April 9, 2025.
China will (i) modify accordingly the application of the additional ad valorem rate of duty on articles of the United States set forth in Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining additional ad valorem rate of 10 percent on those articles, and removing the modified additional ad valorem rates of duty on those articles imposed by Announcement of the Customs Tariff Commission of the State Council No. 5 of 2025 and Announcement of the Customs Tariff Commission of the State Council No. 6 of 2025; and (ii) adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.
After taking the aforementioned actions, the Parties will establish a mechanism to continue discussions about economic and trade relations. The representative from the Chinese side for these discussions will be He Lifeng, Vice Premier of the State Council, and the representatives from the U.S. side will be Scott Bessent, Secretary of the Treasury, and Jamieson Greer, United States Trade Representative. These discussions may be conducted alternately in China and the United States, or a third country upon agreement of the Parties. As required, the two sides may conduct working-level consultations on relevant economic and trade issues.
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China's first step towards negotiating towards a trade deal was the request to reset and take off unilateral tariffs.
Reduction of tariffs from both sides is in line with what China has stated, that they refuse to negotitate unless there is a "clean slate/reset" - but this does not constitute a trade deal.... what trade issues did it tackle? Nothing.
A trade deal is not removing tariffs (btw that Trump put in) and screaming we won. It's a boring process that involves detailed work and contracting over hundreds to thousands of industries and goods.
As for our reps? Well tariffs are still in place so goods still inspected and checked... so on that front... also a nothingburger. Shipping is still up in the air with this Malaysia transshipment route. No De Minimis means we are still getting rocked.
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This Reuters article seems like a fair take on China’s realization about the need to negotiate, and the recent process in general.
China did in fact come to the table without tariffs all being eliminated. The temporary reduction was the product of progress at negotiations, not a condition. Of course, none of that (or the public posturing) matters at all. It is all noise.
The fact is, we have no idea what trade issues were or were not tackled over the weekend. Both sides have reported they are not as far on significant issues as they thought. So having not been in Switzerland over the weekend, I don’t think it is fair to declare this a nothingburger. It could be, or it could be a big somethingburger. We will have to see how the negotiations play out and where things end.
I would think de minimis unlikely will be reinstated absent substantial steps by China to curb fentanyl coming into the US (and the 20% fentanyl tariff is not being lifted even now), but given the wide-spread abuse, as a policy matter, I could see why it wouldn’t be. And the fact is the EU and UK both are looking at ending de minimis for the same reasons. So we may need to learn to live in a no de minimis exception world fairly soon. While ending de minimis could impact this hobby, it is not clear how much. Inspections certainly will go up, but I doubt watches are going to be prioritized given the much greater perceived risk of other items like pharmaceuticals (just look at the recent OECD report on fakes, and you can see how watches are not a priority). And with so many items now hitting the tariff system, there is just no way everything can be inspected. With tariffs for items originating in China and Hong Kong dropping so much at least over the next 90 days, I seriously doubt it will be worth spending a lot of time or money inspecting every package during that time period. So, it is not impossible that there will be less focus on the items we care about (although at some relatively small cost), especially for the next 90 days beginning May 14.
One thing is certain, the futures market does not seem to think this is all nothing. I guess we will no more in 90 days. I am sure the roller coaster ride is not over.
Cheers.
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The sub $800 value tariffs were untouched in this "agreement" meaning June 1 there will still be the $200 flat fee.
Creative thought..TDs should value the rep shipment at OVER $800 to avoid this tariff
Creative thought..TDs should value the rep shipment at OVER $800 to avoid this tariff