On August 1, 2019, President Trump announced that the U.S. will be imposing additional 10% tariffs on approximately $300 billion dollars of goods that have country of origin of China, effective September 1, 2019. The additional tariffs are being enforced due to China’s failure to hold up to previous agreements to increase purchases of agricultural products from the U.S. and China’s failure to stop the sale of fentanyl to the U.S.
The Office of the United States Trade Representatives has published a proposed Section 301 List 4 of items that will potentially be affected by the increase. The proposed Section 301 List 4 includes the vast majority of the remaining HTS numbers that are not already on Lists 1, 2, or 3, which are currently in effect now. The proposed list covers all apparel, footwear, and manufactured textile products, among others, but excludes pharmaceutical inputs, select medical goods, rare earth materials, and critical minerals.
RIM logistics, ltd. will continue to monitor the changes and effects of the Section 301 Tariffs and keep you informed as we receive updated information.