Trade War Escalates
The negotiators from the U.S. and China met this week to discuss the ongoing trade war but word is that nothing concrete will come from these meetings. There is an agreement to meet again in September but in the meantime the President has put out word that he intends to impose 10% additional duty on the remaining items from China, effective Sept. 1st. The list of goods covered by “List 4” has not been officially announced but we expect to get that announcement in the next few days.
Obviously this is not good news for importers and the President’s Tweet stating that he could raise duties to “higher than 25%” in the future is quite concerning for all parties. It appears the President has the authority to take this action but it remains to be seen if or when this will occur.
Here is an important reminder – if you have goods on List 3 (25% additional duty) and you wish to request an exclusion from these additional duties for your products you have a limited time to file the exclusion request. The deadline is Sept. 30th and it can take weeks to draft a properly worded request so now is the time to take action. We can help you with this process – please contact us for further information and guidance.
More news can be expected in the coming days and weeks and we’ll be posting new blog posts when we hear further. If you would like to be on our e-mail list to get news even faster please contact us at firstname.lastname@example.org and let us know.
Please contact us today with your questions. We can assist you in looking at ways you might be able to eliminate or mitigate your company’s exposure to these additional duties. Email us at email@example.com
- Posted by Steve Fodor
- On August 8, 2019