The Office of the U.S. Trade Representative (USTR) released a statement concerning a potential increase of tariffs to 25% on Chinese imports under “Section 301” of the Trade Act of 1974.
According to the release, the USTR had been directed by the president to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10%, and in response to China’s response, the president further directed the USTR to consider increasing the proposed level of the additional duty from 10% to 25%. The 25% customs duty would be applied to the proposed list of products previously announced in a USTR notice on 10 July 2018. Read TradeNewsFlash
In light of the possible increase of the additional duty rate to 25%, the close of the written comment period for the July 2018 notice is extended from 30 August to 5 September, and the due date for requests to appear at the public hearing is extended to 13 August 2018. These modifications to the comment period will be set out in a notice published in the Federal Register.
For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:
John L. McLoughlin
Luis (Lou) Abad
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