President Trump announced a temporary ceasefire in the ongoing trade dispute with China over this past weekend. The main outcome of the truce is that the U.S. will delay implementation of the List #3 tariff increase from 10% to 25% that was supposed to go into effect on January 1, 2019. The delay is supposed to be for 90 days, during which time the U.S. and China will try to negotiate a longer term deal. As of this moment, we still cannot confirm if the 90 day delay is from December 1, 2018 (the date of Trump’s meeting with President Xi of China) or whether it is from the January 1, 2019 (the original date of tariff increase). We are still waiting for official confirmation.
Please note that products on List #1 & List #2 continue to be subject to the 25% additional tariff. Products on list #3 will continue to be subject to the 10% additional tariff until the 90 day negotiation period is over.