Effective at 12:01 this morning, the United States has increased the tariffs assessed on $200 Billion worth of Chinese goods. These items were identified last September 2018 and originally were assessed at a 10% rate. However, as of today, importers will now be required to pay 25%. The products subject to this increase are identified on List 3 and range from seafood, chemical products, plastic items, furniture, consumer goods, and electronics. This tariff increase is in addition to the first two rounds of tariffs on Chinese goods, as well as the tariffs on aluminum and steel products effective last summer.
It is feeling like these tariffs are here to stay for a while and there remains a reasonable worry that the balance of Chinese goods imported into the U.S. could also become subject to these additional tariffs.
If you would like more information or to discuss if there are any ways to reduce, mitigate, or work to request an exclusion to the tariffs, please contact Export Solutions for a free consultation.
Rebecca Yeager is a Trade Compliance Consultant for Export Solutions -- a full-service consulting firm that specializes in helping companies comply with U.S. and international import/export regulations.