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Trump Increases Section 301 Tariff Amounts on Products From China

President Trump tweeted the following message this afternoon.


President Trump’s announcement is a response to China’s announcement earlier in the day that China would place a tariff on roughly $75 billion worth of U.S. goods. The key points to capture from Trump’s announcements are the following:

Products that have thus far been subject to the Section 301 list 1, 2, and 3 tariffs of 25% will now face an increase of 5% starting on October 1, 2019. Our assumption is that the October 1, 2019 increase will be based on entry date. Importers of products on list 1, 2, or 3 should be prepared to pay a total tariff of 30% in addition to the normal tariff that typically applies to to the product.

Products that are on list 4 will see their additional tariff increased from 10% to 15%. Note that President Trump does not mention the list 4 split into list 4A and list 4B. The assumption is that this increase to 15% will apply to both the list 4A and list 4B products.

Category: News, CustomsAugust 24, 2019

Author: Jason Ting

https://www.cargocentric.com

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