China and US reach phase one agreements that offer relief in tariffs
The U.S. and China have reached an agreement regarding the proposed trade tariffs that have been affecting the economy on both sides for the past several months. The tariff relief offers opportunities for an increase in agriculture purchases as well as proposed and effective changes regarding tech and intellectual property permissions, laws, and problems affecting relevant industries.
The news was met with an increase in imports, exports and a significant bump in the stock market (at least momentarily). The proposed changes, so far, include the removal of tariffs on various Chinese goods but no dates have been given for the decision. Furthermore, the next phase of tariff increases that had been planned to go into effect this Sunday have also been waived. This was met with great approval from China and a similar agreement on their part to waive their own tariff increases on the U.S.
The market and industries surrounding supply chain organizations have been volatile so analysts are wary in offering predictions but most agree that this could be a valuable opportunity to push commodities into their respective markets before the tariff pendulums swing once again. Some analysts strongly feel that this momentary ‘peace’ is the calm before the storm and feel that progress will be reversed come election time. Many organizations have already pushed for an increase in exports and imports and are working with their respective logistics, freight forwarders and supply chain services solutions companies.
Unilogic is Ready
Unilogic has seen a spike in service requests since the news was announced and has prepared the necessary resources to meet this increased demand. If you need more information, please contact your personal Unilogic representative at your earliest convenience.