The Office of the United States Trade Representative (USTR) released a bulletin today finalizing “List 2” of the tariffs of Chinese products known as “Section 301” duties.
List 2 goods will be subject to an additional 25% tariff on goods from China starting August 23rd. Out of the 284 proposed tariff lines, only 5 tariff lines were removed by the USTR.
List 2 covers approximately $16 billion worth of imports from China. The Section 301 duties are the US response to China’s unfair trade practices related to the forced transfer of American technology and intellectual property.
List 1 went into effect on July 6th and covered about $34 billion of imports from China.
There is no word on when List 3 will be finalized but based on 1 and 2, I believe sometime in December 2018.
If you are importing a good subject to the 301 duties, contact experienced trade attorney, David Hsu for a free legal consultation on what our firm can do for you: email@example.com or 832.896.6288.