President Donald Trump and his Office of the U.S. Trade Representative (USTR) announced today (June 15, 2018) the imposition of 25% ad valorum tariffs on $34 Billion dollars, 818 tariff lines of imports from China. The tariffs become effective July 6, 2018. The list of items broken down by H.S. Code subject to this new round of tariffs can be found HERE. In the coming days USTR will be publishing a process for applying for company specific exclusions. If your company is impacted by these new tariffs and you would like to apply for an exclusion please contact TSI Global Consulting, LLC.
An additional $16 Billion dollars, 284 tariff lines will be subject to a 30-day public comment period beginning on the date it is published in the Federal Register (expected next week) with implementation date on the additional $16B to be determined (TBD). Items on this proposed secondary list can be found HERE. If your product is on this secondary list and you are interested in petitioning for it to be removed, please contact our office to discuss how we can assist in drafting commentary on your behalf. We also suggest writing your Congressional representatives and expressing your views on tariff policy.
Today’s actions covering $50B in Chinese imports is being justified under Section 301 of the Trade Act of 1974 in response to what the US government considers unfair Chinese trade practices as related to theft of US intellectual property. The list is comprised mainly of inputs and machinery used by high technology industries targeted under a Chinese industrial policy known as the “Made in China 2025” initiative.
The Chinese Ministry of Commerce has announced that it will be shortly publishing a list of $50 billion of American products subject to retaliatory tariffs with a likely July 1, 2018 implementation date. Keep posted to this blog for more detail.
At TSI Global Consulting, we would love to hear from you as to how these tariffs on China, as well as the recent steel and aluminum tariffs on China, Canada, Mexico and the EU are impacting your business. Give me a call (Jonathan Fink @ 210-757-0618) or e-mail me at jonathan.fink@tsiglobalconsulting.com with your stories and comments on business conditions impacted by the tariff policies of the Trump Administration.
