Citing “substantial progress” in trade talks, President Trump has delayed the tariff increase for products subject to his Section 301 List# 3 tariffs. Here is a quick overview of the status of the three tariff lists.
- List #1 – subject to 25% tariff as of July 6, 2018
- List #2 – subject to 25% tariff as of August 23, 2018
- List #3 – subject to 10% tariff as of September 24, 2018. Products on list#3 were originally scheduled for increase to 25% on January 1, 2019. These products were given an extension until March 2, 2019. President Trump has now further delayed the increase to this tariff. We do not know how long this delay / suspension will last. Products on List#3 will continue to face a 10% tariff until further news.
On a related note, please be aware that the U.S. government is slowly reviewing the Exclusion Requests made by companies who requested an exclusion of certain products from the List #1 tariffs. The deadline for turning in exclusion requests for List#1 and List #2 have already passed. However the List#3 exclusion process is expected to become available in the upcoming month. If you are interested in learning more about the exclusion process, please contact us.
