According to the US Trade Representative, the US will increase the tariff rate from 25% to 30% on the existing three lists of goods subject to Section 301. The change will go into effect starting on October 1st, following a notice and comment period.
The fourth list of goods subject to Section 301 will increase as well from 10% to 15%. The effective dates for these tariff increases are unchanged. Some commodities are subject to the increase on September 1st while others are delayed until December 15th.
This move is in response to Chinese retaliatory tariffs of 5% to 10% on 5,000 products exported from the US.
If you have questions regarding Section 301, please contact Deringer’s Compliance Department.