Starting October 1, the Trump Administration plans to raise the additional tariffs it placed on $250 billion worth of Chinese imports to 30 percent from 25 percent. These products are captured on U.S. Trade Representative (USTR) Lists 1, 2 and 3.
List 3 ($200 billion annually) includes many U.S. consumer products, such as furniture, vacuums, lighting and plumbing fixtures, handbags, luggage, and food. At a 30 percent tariff for List 3 goods, it amounts to approximately $60 billion (annually) of additional costs to U.S. importers, manufacturers and consumers.
The good news is that some of the List 3 products may qualify for an exclusion, saving a company potentially millions of dollars from all Section 301 tariffs paid from September 24, 2018, to one year after the granted exclusion. However, there is a short window as exclusion requests must be filed by September 30.
You're invited to join Holland & Knight's International Trade Group for "Obtaining a Product Exclusion for Chinese Imports."
Attorneys Ron Oleynik and Andrew McAllister explain:
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