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U.S. and China promise new rounds of tariffs

     Tariffs

The U.S. implemented tariffs on some $200 billion of imports from China, effective September 24, 2018.  The 10% tariff will last until January 1, 2019, when the rate will increase to 25%.  An additional list of tariffs, covering imports worth $267 billion, will be enacted as China followed through on its promise to retaliate against the U.S. with $60 billion in tariffs, also effective September 24, 2018.

The Chinese Commerce Ministry said it has placed an additional 5% duty on U.S. product, including smaller aircraft, textiles and electronics and an extra 10% on agricultural goods, e.g. meat, wheat, wine.

The White House says the tariffs are necessary because China has refused to stop its “unfair policies and practices relating to United States technology and intellectual property – such as forcing United States companies to transfer technology to Chinese counterparts.  These practices plainly constitute a grave threat to the long-term health and prosperity of the United States economy.”

The current list of tariffs on Chinese goods imported into the U.S. as of September 24, 2018 is available here.

For more information please call Brian Rowe, Director – Customs Compliance & Regulatory Affairs.

Quick Tip #53
Always have a back-up plan

Do you have a Plan B when something goes wrong with a shipment?  It happens sooner or later with every company that has regular shipments.

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