Increase in Section 301 Duties Scheduled for May 10th, 2019
On May 9, the Office of the U.S. Trade Representative (USTR) is scheduled to publish a modification to the Section 301 Tariffs increasing the duty rate on the products covered in the September 2018 Federal Register Notice from the current rate of 10% to 25%. According to the notice, these changes are scheduled to take effect on May 10. U.S. Customs and Border Protection (CBP) has updated the ABI to include these changes for any entries scheduled for May 10 onwards.
This modification is a result of what the USTR calls a “lack of progress in the additional rounds of negotiations [with China] since March 2019” and after a May 5 tweet from President Trump where he states that “the Trade Deal with China continues, but too slowly, as they attempt to renegotiate.”
Reported by The NCBFAA