Dear Valued Customer,
Though originally anticipated to become effective January 1, the U.S. has decided to postpone the List 3 (U.S. 301) tariff increases, which contains over 5,000 tariff lines. The White House has agreed to delay the list 3 tariffs for 90 days from December 1. As a result, the U.S. will leave the tariffs on $200 billion worth of product at the 10% rate, and not raise to 25%. If an agreement is not reached with China after the 90 days, the tariffs are expected to increase to 25 percent on or around March 1.
While there is still much uncertainty on what changes the negotiations will bring, in addition to the postponement of “list 3” products, this agreement also delays the implementation of “List 4” increases, which would levy tariffs on all remaining Chinese products not already affected.
To help you better understand the List 3 (U.S. 301) Products and HTS codes effected, see below link:
List 3 – products pay 10% additional tariff, effective September 24, 2018, expected increase to 25% March 1, 2019.
List 4 – only threatened at this point, tariffs currently unavailable
Still unsure on how this can this impact your business? Please reach out to your local Masterpiece International representative. We will be happy to discuss what impact this can have, as well as solutions that are available.