September 13, 2019
President Trump posted on Twitter that the increase of additional tariffs to 30 percent, covering $250 billion in Chinese imports will be delayed until October 15, 2019.
This increase covers goods listed on Rounds 1 -3 of the Sec 301 additional duties scheduled to go into effect October 1, 2019. The additional tariffs imposed on these products currently stands at 25 percent.
This move comes weeks ahead of planned meetings with China on trade and follows exemptions of some items from retaliatory tariffs China imposed on U.S. goods. The Chinese exemptions cover 16 types of products including some anti-cancer drugs, lubricants and animal feed ingredients.
China also indicated more exemptions may be announced for goods not easily sourced from countries other than the U.S. This process is similar to the criteria the U.S. is using to determine items excluded from the additional tariffs imposed on Chinese goods.
Section 301 tariffs of 15 percent, which went into effect on September 1, and those scheduled for December 15, are not affected by this move.
Trade talks to be held in Washington are expected to reconvene in early October but major obstacles to an accord remain.
….on October 1st, we have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th.
— Donald J. Trump (@realDonaldTrump) September 11, 2019
Please contact us if you have any questions on current tariffs and exclusions.