Trump – February 24, 2019
Trump to Delay China Tariff Hike Again Beyond March 2
Dear Valued Customer:
According to an article published by Politico, “President Donald Trump said Sunday that he is delaying his plan to raise tariffs on $200 billion worth of Chinese goods later this week because talks aimed at addressing U.S. trade concerns have made “substantial progress.”
Trump is quoted as tweeting, “I will be delaying the U.S. increase in tariffs now scheduled for March 1,” in the second of two tweets on the talks.
“I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues,” Trump said in the first of his two China-related tweets today.
At this time, there is no official notice from the USTR and the U.S. Customs and Border Protection has not yet updated its tariff database to reflect any changes to the increases that were scheduled to take effect on March 2. Therefore, until Customs updates their tariff database, we recommend that importers utilize the “Estimated Entry Date” as the date of Customs entry filing if the shipment has already arrived on/before March 1, or the date of the estimated date of vessel arrival into the first U.S. port of unlading if the Customs entry is being pre-filed prior to the arrival of the vessel, in order to prevent paying the 25% rate. Declaring the Estimated Entry Date will allow for the proper calculation of 10% provisional duties rather than the 25% rate until Customs updates their tariff database when the preliminary daily statement date falls on/after March 2.
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!
The information accompanying this newsletter contains confidential information belonging to the sender which is legally privileged. The information is intended only for the use of customers of James J. Boyle & Co. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution or the taking of any action in reliance on the content of this information is strictly prohibited. James J. Boyle & Co. will also not be held accountable for any discrepant information. The service we provide is based on our "Terms and Conditions of Service", which is available upon request.