The Office of the United States Trade Representative (USTR), announced intentions to assess up to an additional 25% duty on a fourth list of Chinese goods. The new list covers goods worth approximately $300 billion in trade and encompasses nearly all of the items not covered on previous lists. The products subject to this proposed list can be accessed here.
Although a date has not yet been set, it is expected that the additional duties for goods on list 4, will take effect in the latter part of June 2019.
What Has Been Included On The New List?
- Both Knit and Woven Apparel
- Textiles such as linens and curtains
- Sporting Goods, Cameras & Photographic equipment
- Watches and Clocks
- Live Animals & Animal Products
- Dairy Products & Produce
What Has Been Excluded From The List?
- Certain pharmaceutical inputs
- Select medical goods
- Rare earth materials
- Critical minerals
China threatened to retaliate with additional tariffs on US Goods entering China, after talks broke down in the latest round of negotiations with the United States that took place in early May 2019.
On Monday May 13,2019, China announced that it would be increasing tariffs from 10% to 25%, on US goods worth approximately $60 billion in trade. The new tariffs are set to take place on June 1, 2019. The list of goods subject to the increase in duties include Cotton, machinery, grains and aircraft parts.
What Is Your Best Course Of Action?
Speak to a Trade Advisor today about alternative sourcing, valuation and tariff options that could result in a lower landed cost by contacting us at [email protected] today.