Fireworks Sellers Cancel July 4th Orders Over Tariffs

NBC News reports:

U.S. fireworks wholesalers and distributors say they’ve been canceling shipments from China for this year’s July Fourth holiday. Some are also halting manufacturing in China of fireworks for next year’s celebrations of the 250th anniversary of America’s independence.

Trump’s April 2 tariff rollout, which he dubbed “Liberation Day,” raised the effective import tax rate on nearly all Chinese goods to 145%, even after he walked back much of the other sweeping duties days later.

Last month’s chaotic trade policy swings occurred just as U.S. fireworks companies were preparing to receive their last July Fourth shipments from China, which makes around 75% of fireworks used in professional shows and 99% of consumer fireworks used in the United States, according to the National Fireworks Association.

Read the full article. Below, see a reminder from 2019.