Earlier today, President Trump indicated via Twitter that the fourth list of Chinese imported goods will be subject to a 10% tariff under Section 301 beginning September 1st. This list represents the balance of goods not already subject to the Section 301 tariffs and amounts to a $300 billion import value. The President stated the tariff is being implemented because China has not fulfilled its promises to buy large quantities of US agricultural products or stopped the sale of fentanyl to the US.
The President said he looked forward to continued “positive dialogue with China on a comprehensive trade deal.” Additional details regarding the fourth Section 301 tranche will be forthcoming. If you have questions regarding Section 301, please contact Deringer’s compliance department.