Dear Valued Customer,
Pursuant to our May 8 advisory regarding the Section 301 tariff increase from 10% to 25% on List 3, the US Trade Representative (USTR) has provided the below update:
List 3 goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. EST on May 10, 2019, and before June 1, 2019, and exported to the United States before May 10, 2019 will be subject to the 10% duty rate. If exported to the US after May 10, 2019, duty rate will be subject to 25%.
Further enforcement by way of a fourth round of tariffs impacting the remaining $325 billion in Chinese imports to the US is a possibility. Potential List 4 impacted commodities can include but are not limited to: apparel, footwear, kitchenware, toys, imitation jewelry, festive articles, plastic food containers, and more.
OEC Group is following this case closely and will further explain the implications as more information is made available.
For more information, please follow the links below:
Official USTR notice:
Office of the United States Trade Representative Notice of Modification of Section 301 Action: China's Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation
Summary of implications:
U.S. Customs agency issues tariff increase notice, allows grace period
OEC Group is committed to keeping our customers informed on current market conditions and will continue to monitor the situation as it develops.
Should you have any questions regarding this update, please contact your OEC Group Customer Service Representative.
The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement.