There have been recent announcements by the President of The United States of further punitive tariff on imports from China. The Vice President of our US operations, Tim Stewart, provides this update.
Yesterday, the Office of the United States Trade Representative (USTR) released a list of approximately $200 billion worth of Chinese imports that will be subject to additional tariffs. In accordance with the direction of President Trump, the additional tariffs of 10% will be effective from 24 September 2018. From 1 January 2019, the level of the additional tariffs will increase to 25%.
The list contains 5,745 full or partial lines of the original 6,031 tariff lines that were on a proposed list of Chinese imports announced on 10 July 2018. After a round of public consultation, 297 items (mainly consumer electronics, chemicals used as inputs in manufacture and agriculture and certain health and safety products) have been removed from the list.
Many imports will be hit by this additional duty with the additional tariffs effective from 24 September 2018.
Copy of the announcement is available here
Full list of commodities to which the tariffs apply is available here
It is also expected that the increase to 25% may be enacted earlier if China take any punitive action against the US (which they have announced they will do).
We will continue to monitor developments and keep you informed. In the meantime, please contact your account manager or customer service representative for additional information.