USTR – December 17, 2018
Section 301 Tranche 3: USTR Publishes FR Notice to Delay Tariff Hike to 3/2/19
Dear Valued Customer:
This newsletter from December 17 is being resent with a correction in the newsletter title which should have reflected the effective date of the delayed tariff hike as March 2 (not April 2).
As a follow up to our previous newsletter, the United States and China had agreed to hold off for 90 days on additional tariffs on each other’s goods to allow for talks to continue. The U.S. agreed to leave tariffs on the third tranche of more than $200 billion worth of Chinese products at 10 percent and not raise it to 25% until March 2, 2019.
However, as of last week, the U.S. Trade Representative (USTR) had not yet officially published a Federal Register notice concerning the tranche 3 tariff hike delay, preventing the U.S. Customs and Border Protection (CBP) from updating their tariff database in ACE, which left the tariffs at the increased rate of 25% effective January 1, 2019.
The USTR has finally published their official notice in the Federal Register to postpone the tariff hike to 25% until March 2, 2019, which paves the way for CBP to update their tariff database this week. This will allow CBP to accept Customs entries for goods from China that are subject to Section 301 tranche 3 at the current 10% provisional tariff rate until the expiration of the 90-day period. If no agreement is reached between the two nations, the tariff rate will increase from 10% to 25% at 12:01AM on Saturday March 2, 2019.
Thank you for your attention and cooperation. If you have any questions, please contact your nearest JJB representative.
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