MID-MICHIGAN (WNEM) – President Donald Trump said the United States and China agreed to roll back tariffs.
Officials said the U.S. will temporarily lower its overall tariffs on Chinese goods from 145% to 30%, while China will cut its levies on American imports from 125% to 10%. However, Trump’s 20% fentanyl-related levies on China will stay.
This 90-day truce in the trade war couldn’t have come at a better time for one Saginaw business owner.
A large chunk of Hayes Specialties’ products comes from China. Summer is the busiest time for the company that caters to fairs and festivals.
Jim Hayes Jr. said he has 12 to 15 containers worth of product already made that were ordered six months ago for delivery for the busy summer season that was shut down. Now, with this 90-day pause, he’s doing everything he can to get his shipment on the move.
“It’s been a scary and uncertain couple of months. And while we’re not out of the woods yet, this pause, this break, gives us an opportunity to once again start moving some product this way,” he said.
Hayes is the president of Hayes Specialties Corporation in Saginaw. He is glad to see a 90-day pause on the Trump administration’s tariffs on China.
He said a large portion of his products come from China, including a big order he made six months ago that has been sitting in a Chinese port because he couldn’t afford to pay the duty rates with 145% tariffs on Chinese exports to the U.S. in place.
But now, this 90-day pause changes that.
“I didn’t get out of bed this morning and my phone was blowing up before I even normally wake up. And I got up, and before I even showered and got dressed, I hit the email and the texts with our partners, our shipping partners, our vendors overseas, and really attempted to just start the ball rolling so we can get those much-needed summer goods here for us,” Hayes said.
Hayes Specialties Corporation brings in many items that are used in amusement parks, carnivals, school festivals, and retail shops.
“This is still going to take probably six to 10 weeks before we’ll see our first shipment arrive,” Hayes said.
That means it would be in time to save part of the summer, the busiest time of the year for this business.
“It’s not going to completely salvage our season, but it’s certainly going to help. We’ll be able to get products to those people looking to have fun and enjoy the fun products we offer for kids, families, and parents, adults alike,” Hayes said.
He said the products deemed most urgent for his customers will be shipped first.
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