What started on Sunday May 5th as a tweet, has become official policy that affects billions of dollars in US imports. Rapid changes in policy have made the last 72 hours exciting for brokers and importers as they try to plan for the financial impact and make process adjustments.
The final published policy: Starting May 10th, the duty rate for the products named in List 3 of the Section 301 tariffs will increase from 10% to 25% for goods entering the US from China for consumption exported for import into the US on or after 12:01 am on May 10th and/or imported into the US after June 1st at 12:01 am.
Our team is continually monitoring the ever-changing trade situation with China and we’ll update this article as new information becomes available.
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The classifications that are part of List 3 can be found here.
Last updated May 10, 2019 at 3pm Central time.