The Section 301 Tariff Exclusions, which were extended in December 2022 and May 2023, are currently set to expire and be reinstated as a 25% Tariff on September 30th, 2023. In May, the tariff exclusion deadline was extended just a matter of days prior to the deadline, however as of today it’s unknown if the exclusions will be extended again. As of July, the recommendation is to assume the 25% Tariff will resume on all products by the first of October, and it’s advised to plan inventory accordingly, with Q3 vessel space filling up quickly.
