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Trade Updates

June 7, 2019 12:30 PM
  • Section 301 List 3: List 3 tariff increase (from 10% to 25%) went into effect at 12:01 p.m. on Friday, May 10, 2019. There was some back and forth on whether or not that was goods shipped after that date/time or goods in transit as well – the USTR came down in-between. Thus, the 10% tariff will remain in effect for goods exported before the 10th and that enter the U.S. before June 1st, and now has been extended to June 15th.
     
  • Section 301 List 4: This would be a 25% tariff on basically everything else not already subject to a tariff under the prior lists. USTR will hold a public hearing on June 17th and you will need to notify them of your appearance by June 10th. Comments would be due 7 days after the hearing. To access the List 4 Federal Register notice, click here.
     
  • In retaliation, China has announced $60 billion worth of goods for a subject 5% to 25% tariffs. 
     
  • Mexico Tariffs: The Trump administration, while still negotiating with Mexico, has pledged to begin imposing tariffs on all goods imported from Mexico this Monday, June 10th, unless we hear otherwise. This threat is being used as leverage against what the administration deems an unacceptable response by Mexico to the immigrants crossing their border into the U.S. Beginning June 10, 2019, a 5% tariff would be imposed and this would then increase every month as the Administration does not deem enough progress is being made on the immigration front – so to 10% on July 1, 2019, 15% on August 1, 2019, 20% on September 1, 2019, and 25% on October 1, 2019. Under the current proposal, tariffs will be capped at 25%. There has been significant push back from the GOP, particularly on the Senate side and efforts to block this action are seriously being considered. That being said, we are only 3 days away from the proposed imposition.
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