Just days before the May 31, 2024, deadline for the expiration of a list of imports excluded from the 25% China tariffs, a decision was made to reinstate the 25% tariff on some products. The USTR decided to reapply the 25% tariff on a selection of previously excluded products, while the remaining items will remain tariff-free through May 2025. The reinstated tariffs will take effect with a grace period ending on June 14, 2024.
TCC recommends staying in close contact with your sales representative and customer service team to understand your supply chain, inventory status, and the arrival of open purchase orders for the most up-to-date pricing, availability, and cost breakdown.
In related news, Mexico announced that over 500 products imported from China will be subject to additional tariffs, with rates ranging from 5% to 50%.
To learn more, see list here, and Mexico info here.
