News

Tackle brands and manufacturers in the USA and China are breathing a sigh of relief after both countries agree a 90-day pause in their tariff tit-for-tat.

However, while the huge reciprocal tariffs on many items including steel and aluminium – which have a big effect on many tackle items – have been paused, there are still hefty add-ons which remain in place.
Following talks over the weekend in Geneva, Switzerland, the US and China agreed to the three month hiatus , meaning the previous 125 per cent tariff on Chinese imports will be reduced to the baseline rate of 10 per cent beginning tomorrow (May 14^th).
However, the 20 per cent tariff levied by the US in February on China under the International Emergency Economic Powers Act remains in effect, as well as 25 per cent tariffs on steel and aluminium not to mention all tariffs imposed under President Trump’s first term. 
Alongside this announcement, China agreed to drop all tariffs taken against the United States since April 2nd, while the countries negotiate a long-term agreement.

Although this news is an important step in the right direction, the baseline 10 per cent flat rate tariff and 20 per cent tariff related to illicit drugs will remain in place during the pause.

A statement from the American Sportfishing Association – the US’ official tackle trade body – said: “At this time, there is no legislative or regulatory process to seek exclusions from any of these tariffs.

“Negotiations that impact countries are either underway or expected to begin soon. Additional tariff action and reciprocal tariff announcements are also expected in the months ahead.

“The sportfishing industry contributes more than $230 billion to the U.S. economy and billions of dollars to conservation each year. Our industry supports over 1.1 million jobs nationwide and more than one-in-six Americans go fishing each year.

“We continue to explore opportunities to share the economic and cultural value of recreational fishing with the administration and Congress and promise to keep you informed on the latest developments.”