Tariff increase announced for Section 301 List 3 products
UPDATE: a bulletin released by the office of the U.S. Trade Representative (USTR) announced that the 15% tariff increase will go into effect at 12:01 AM on Friday, May 10th, 2019.
On Sunday, May 5th, President Trump announced, via Twitter, a planned increase of Section 301 List 3 tariffs from 10% to 25%. In the same tweet, the President also threatened a 25% tariff on an additional $325 billion of goods from China. These hikes could go into effect as early as the end of this week.
These announcements come amidst ongoing trade talks between U.S. and China. Previously planned tariff increases, scheduled for January and March of this year, were postponed due to an impending trade deal. However, according to this recent announcement, the U.S. administration feels the progress is too slow, warranting the increased tariffs.
Trans-Border will continue to monitor the situation. If you have any questions, please reach out to Bill Carey, Import Compliance Manager, at email@example.com or (800) 493-9444.