"Tom Athron, the London-based retailer's chief executive, said Trump's stricter country of origin rules and the end of the de minimis cost exemption for parcels worth less than $800 (587) had hit customers across the Atlantic. The American authorities have told us this is the tea industry in its entirety that if you've got tea from China and India in your tea, then its country of origin [is] China or India, and therefore those enormous tariffs apply, he told the Financial Times."
"Trump, who landed in the UK on Tuesday for an unprecedented second state visit for a US president, last month imposed a 50% tariff on imports from India as a punishment for buying Russian oil. And earlier this year, the US administration raised tariffs as high as 145% on Chinese goods as the trade war intensified, before dropping them to 30% in May to facilitate negotiations between the two trading giants."
"For a 250g canister of loose leaf Royal Blend tea, which retails to US consumers at $27.85, Fortnum's has now been forced to charge delivery fees starting at $25.41 owing to the changes to US taxes and duties. The 318-year-old retailer, which holds two royal warrants, was not previously liable for any tariffs on the majority of its deliveries to US customers."
Stricter US country-of-origin rules and the end of the de minimis exemption for parcels under $800 have affected Fortnum & Mason's US customers. US authorities classify blends containing tea from China or India as originating in those countries, triggering large tariffs. The US recently imposed a 50% tariff on imports from India and previously raised tariffs on Chinese goods as high as 145%, later reducing them to 30% in May amid talks. A 250g Royal Blend retailing at $27.85 now attracts delivery fees starting at $25.41 because of US taxes and duties. Customs assessments of substantive transformation determine origin, and the changes have made customers wary of international purchases.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]