Monday, December 3, 2018
IMPORTERS RECEIVE A TEMPORARY REPRIEVE – ADDITIONAL SECTION 301 DUTIES WILL NOT INCREASE ON JANUARY 1, 2019
Yesterday the US announced that the planned increase of the “List 3” goods from China beginning the first of the year would be placed on hold for ninety days. This delay will provide an opportunity to continue pending negotiations with China.
On September 24, 2018 “List 3” tariff codes, covering roughly $200 billion of Chinese origin products, became subject to additional “Section 301” duties in the amount of 10% with a provision that on January 1, 2019, the 10% duty rate would be increased to 25%, to match Lists 1 and 2, implemented earlier this year.
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