Update: Sec 301 Tariffs on Imports from China
Here’s the latest breakdown on the proposed increased tariffs that President Trump announced last Friday.
**Please keep in mind that this is the latest information from Friday. This can change at any time, we will do our best to keep you updated**
• All products on Lists 1, 2, and 3 that are currently subject to a 25 percent tariff will be subject to a 30 percent tariff starting on October 1, 2019.
• All products on List 4 will be subject to a 15 percent tariff rather than the originally planned 10 percent, starting either on September 1, 2019 or December 15, 2019.
On September. 1, 2019, List 4A will take into effect. These products will be subject to additional 15% tariff.
On December 15, 2019, List 4B will take into effect. These products will be subject to additional 15% tariff.
Four seafood items that were excluded from previous lists are now included on this list:
0304.75.10 Frozen Alaska pollack fillets, skinned, in blocks weighing over 4.5 kg, to be minced, ground or cut
0304.75.50 Fillets, frozen, of Alaska pollock, other than above
0304.94.10 Alaska pollack chilled or frozen fillets,in bulk or in immediate containers weighing with their contents over 6.8 kg each
1602.90.10 Prepared or preserved frog meat
A Federal Register Notice is currently pending.
President Trump’s Tweets on 8/23/19
…Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%. Thank you for your attention to this matter!
https://twitter.com/realDonaldTrump/status/1165005930733473793
..unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%…
https://twitter.com/realDonaldTrump/status/1165005929831702529
08/23/2019
Washington, DC – Today, China announced it will impose unjustified tariffs targeting U.S. products. In response to China’s decision, and in order to achieve the objectives of the China Section 301 investigation, President Trump has instructed the United States Trade Representative (USTR) to increase by 5% the tariffs on approximately $550 billion worth of Chinese imports. For the 25% tariffs on approximately $250 billion worth of Chinese imports, USTR will begin the process of increasing the tariff rate to 30%, effective October 1 following a notice and comment period. For the 10% tariffs on approximately $300 billion worth of Chinese imports that the President announced earlier this month, the tariffs will now be 15%, effective on the already scheduled dates for tariff increases on these imports.
USTR will publish in the Federal Register as soon as possible additional details on today’s announcement.