The Office of the United States Trade Representative officially released a modification to Section 301 Action regarding China’s Acts and duties on approximately 5,700 products imported from China. The revised mandate will take effect at 12:01 a.m. on Friday, May 10, 2019. Imported cargo departing China after this deadline will be subject to a 25% duty, up from the previous 10%.
According to Reuters, U.S. Customs and Border Protection have announced a grace period for materials affected under the Section 301 tariffs. If product departed China before 12:01 a.m. on May 10, it will be subject to the previous 10% duty, not the new 25% tariff.
The Chemical Company is continuing to monitor the tariff situation and will provide further updates and details as they are available.
For more information:
SOCMA Press Release
