USTR Publishes Draft Notice of 25% Tariff for List 3
Section 301, List 3 Chinese Tariff has been scheduled to increase from 10% to 25% based of draft publication from the Trade Representative.
The "Tariff War" between China and USA is becoming increasingly heated. President Trump issued a series of tariff increases in 2018 divided into essentially 4 different lists. The 3rd and 4th list of Section 301 Tariffs were originally instated at 10% duty with the possibility to increase pending trade agreements between the two feuding nations. The initial increase for List 3 from 10% to 25% was scheduled on January 1st, 2019. Trump agreed to push back the increase due to agreeable trading terms and progress between China and the USA. However, with recent news involving China retracting from agreed upon action, the President has tweeted the possibility of increasing List 3 duty percentage, further confirmed by this draft notice by the USTR. Previous Section 301 list announcements have been issued well in advance of enactment while this increase is less than a week's notice. It is unclear if the May 10th increase date will apply to vessel arrivals or departures from origin which will affect which entries will be subject to additional duty. Further update should be issued once official notice is issued by the USTR.