Just when you thought you were up to date with the surge of news about the additional tariffs, there is more.
Last week, the President announced the assessment of tariffs on all products from Mexico beginning on June 10, 2019. In the statement from the White House, it was noted that to address the emergency at the Southern Border and per the authority granted to the President by the International Emergency Economic Powers Act, that:
Accordingly, starting on June 10, 2019, the United States will impose a 5 percent Tariff on all goods imported from Mexico. If the illegal migration crisis is alleviated through effective actions taken by Mexico, to be determined in our sole discretion and judgment, the Tariffs will be removed. If the crisis persists, however, the Tariffs will be raised to 10 percent on July 1, 2019. Similarly, if Mexico still has not taken action to dramatically reduce or eliminate the number of illegal aliens crossing its territory into the United States, Tariffs will be increased to 15 percent on August 1, 2019, to 20 percent on September 1, 2019, and to 25 percent on October 1, 2019. Tariffs will permanently remain at the 25 percent level unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory.
There is much still to be learned and figured out regarding this announcement, so stay tuned!
If you would like to learn more about this, 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.