China Tariffs - List 3 Finalized and Taking Effect
In this video blog, MSK Partner & International Trade Practice Chair Susan Kohn Ross covers the latest developments with the 301 tariffs.
At the end of the day on September 17, 2018, the U.S. Trade Representation issued notice that List 3 of the China tariffs has been finalized and takes effect with a 10% tariff on September 24, 2018. If “sufficient” progress is not made with the Chinese as defined by the Trump Administration, that tariff rate will rise to 25% on January 1, 2019. List 3 is the list containing products worth $200 billion.
The USTR announcement can be found here. The original list of products was 6,031. The final list was reduced to 5,745 and can be found here.
To no one’s surprise, the Chinese immediately announced their own retaliatory action and those details can be found here.
The other big news of the day is in the September 18, 2018 Federal Register, information was published by USTR regarding the exclusion process which applies to goods on List 2. The deadline to file an exclusion request for goods on List 1 ($16 billion worth of goods and took effect on July 6, 2018) remains October 9, 2018. The deadline for any exclusion request for goods on List 2 (the $34 billion list which took effect on August 23, 2018) is December 18, 2018. Be on the lookout for a Federal Register notice which presumably will deals with the List 3 goods.
Music provided by Pond5
