Dear Valued Customer, On August 23, the United States Trade Representative (USTR) announced further increases to all 4 tranches of the Section 301 tariff rates. This action was taken in response to China’s retaliatory tariffs assessed against U.S. products after President Trump had previously announced the imposition of tariffs against remaining Chinese goods that had not been included in previous tranches. The USTR said that Trump had instructed the USTR to increase the tranches 1 through 3 tariff rates from their current 25% to 30% effective October 1 following a notice and comment period. In addition, the new tranche 4 tariff rates will be increased from 10% to 15% effective on the previously scheduled dates of September 1 for List 4A and December 15 for List 4B. The USTR will publish additional details related to this announcement in the Federal Register as soon as possible. Based on the foregoing, we recommend clients make plans now for these increases. If you have any questions, please contact your nearest James J. Boyle & Co. representative.
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