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U.S. reaches Phase One deal with China

Toronto, December13, 2019

The

United States Trade Representative (USTR) has announced

the U.S. have reached a Phase One agreement with China and the additional tariffs scheduled to become effective December15, 2019 will not beimplemented.

The notice also advises tariffs imposed on $250 Billion of China origin goods will remain in effect at 25%, however, the remaining tariffs ($120 Billion) will be reduced to 7.5% from the current rate of 15%. Those tariffs being reduced were implemented effective September1, 2019 and referred to as

List4A.

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

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