According to Sandler, Travis & Rosenberg, U.S. government sources have confirmed that a proposed increase in the additional tariff being imposed on $250 billion worth of imports from China from 25 percent to 30 percent will NOT take effect Oct. 1 but is still planned for Oct. 15. This proposed increase would affect Tranches 1, 2 and 3. USTR’s notice said this change would be effective Oct. 1, but the proposal has never been finalized. As a result, the additional tariff on these goods remains at 25 percent. Subsequent to USTR’s notice President Trump said he would delay the tariff increase to Oct. 15. It now appears that a formal notice increasing the tariff to 30 percent as of that date will be issued soon. However, U.S.-China negotiations are scheduled for Oct. 10-11, which could affect the date and rate of any such change. Thank you for your attention and cooperation. If you have any questions, please contact your nearest JJB representative. Keep yourself updated with the latest industry happenings, subscribe to JJB’s Newsletters!
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