The U.S. and China announced they will resume trade negotiations in an attempt to resolve a trade dispute that has led to 25% tariffs on $200 billion worth of Chinese products, including hardwood flooring.
President Trump and President Xi announced the pause on escalating tariff tensions following the G-20 Economic Meeting in Osaka, Japan, over the weekend, according to the Hardwood Federation. Trump confirmed he will pause threatened plans to add tariffs to an additional $300 billion worth of Chinese imports.
The negotiations between the two countries came to a halt in May when the U.S. alleged China had begun walking back on an agreement. Trump imposed the long-threatened 25% tariffs May 10.
Trump said the recent meeting with Xi went “better than expected.”
The Hardwood Flooring Federation has been campaigning for the U.S. to resolve the tariff dispute with China, which it says is hurting many companies in the hardwood industry. On June 11–12, Hardwood Federation members flew to Washington D.C. to meet with members of Congress to discuss the hardwood tariff concerns.
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