News
MP MENASHE, Israel – Caesarstone Ltd. will close its original quartz-surfaces factory as part of a major revamp of the company. The announcement was made in early May by CEO Yos Shiran, who rejoined Caesarstone in March after serving in the same capacity from 2009-2016. Shiran blamed a net revenue loss of $3.8 million in 1Q 2022 for the decision. Both the U.S. and Canada reported declines in revenue in the first quarter. The company is also reducing its stockpiled inventory.
NEW YORK – The federal Court of International Trade ha ruled that the Section 301 tariffs on almost all goods imported from China will remain in place.
A three-judge panel found that the office of the U.S. Trade Representative (USTR) acted within its legal authority in imposing the universal tariffs, now at 25% on Chinese imports.
The judges rejected arguments by more than 3,600 companies, including several U.S. hard surfaces importers, that the USTR didn’t follow proper guidelines in setting the tariffs.