The Finance 202: Trump's Trade War Sends Big Business to K Street
International Trade Attorney Ronald Oleynik spoke to The Washington Post regarding the Trump administration’s new tariffs on Chinese imports, resulting in companies desperate for relief.
Mr. Oleynik says, “There’s a lot of activity and a lot of concerned companies out there.”
American manufacturers including toy makers, big-box retailers and apparel companies have been affected the most with the newly developed tariffs and are encouraged to present their exemption case to the U.S. Trade Representative (USTR).
Mr. Oleynik believes the USTR can help these companies a lot. He states, “They do make better advocates than most people. When a senator calls the White House or USTR, they get more attention. Using that leverage is helpful. But they’ve got to want to do it.”
According to Mr. Oleynik, another solution companies can take is to seek deductions within valuations that customs officers place on their imports. This results in the shrinking subjects to the new tariffs.