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U.S. finalizes tariffs on $200 billion of China imports

The U.S. has

announced

it will implement tariffs on roughly

$200 billion of imports from China,

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

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 being implemented against Chinese goods imported into the U.S. on September 24th, 2018 are available

here.

For more information please call Brian Rowe, Director – Customs Compliance & Regulatory Affairs at (905) 882-4880, ext. 213.

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