Prof. Paul Vaaler Interviewed by WCCO News About Temporary Reduction in China Tariffs 

Professor Paul Vaaler, John and Bruce Mooty Chair in Law and Business, was interviewed by WCCO News about the 90-day reduction of tariffs on Chinese imports. The temporary reductions would effectively reduce the level of U.S. tariffs still in place on Chinese goods 145% to 30%. Prof. Vaaler said, “In the next 90 days, what we’re going to see is a decrease in the cost of imported goods substantially. I think more importantly, we’re going to have [the] availability of those goods. At 145% tariff, which is where we were last week, it’s not that the costs are so high, it’s just trade stops. So Chinese trade now is going to continue, but what we’re going to see is we're going to see essentially a 30% surcharge on goods that are coming from China, and that has a differential effect on really large businesses, medium-sized businesses, most importantly, those half million small businesses that are the backbone of the Minnesota economy.”