Best Buy to Urge USTR to Drop TVs From List of Goods Targeted for Chinese Tariffs
Best Buy wants to testify at the May 15 hearing on the Trump administration’s proposed 25 percent tariffs on goods imported from China (see 1804040019), the company said in a “request to appear” filing with the Office of the U.S.…
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Trade Representative. At the hearing and in written comments Best Buy will submit by the May 11 deadline, Chief Marketing Officer Mike Mohan will urge the USTR to eliminate from the list of targeted products flat-panel TVs under HTS subheading 8528.72.64, the filing said. “Best Buy intends to provide testimony on the inefficacy of the proposed tariffs in achieving the objectives outlined by USTR”; the impact tariffs will have on Best Buy, the industry and U.S. consumers; “and alternative remedies that USTR should consider instead of the tariffs,” it said. Analysts estimate TVs classified under the subheading include virtually all the sets that are imported from China, including Best Buy’s Insignia-brand private-label product (see 1804090008). Nearly 19 million TVs with a value of $3.9 billion were imported from China in 2017 under the classification.