The Latest on Tariffs from ECIA
By Robin Gray Jr.,Chief Operating Officer and General Counsel, ECIA
The U.S. has increased the Section 301 tariffs on $200 billion worth of goods imported from China. This action raises the current tariff on List 3 goods from 10% to 25%. The increase is effective May 10 except for goods that were exported/shipped prior to May 10 as long as these products enter the U.S. prior to June 1. Customs & Border Protection (CBP) created a new code (9903.88.09) to cover these shipments. New CBP guidance may be found at the links below. Products in foreign trade zones (FTZ) will pay the tariff in effect at the time the product was admitted into the FTZ.