- Feb. 27, 2019
-- Plans to raise tariffs on Chinese imports totaling more than $200 billion were put on hold this weekend due to amicable trade discussions between the U.S. and China.
An impeding deal to culminate the trade war is closer than originally expected. While the concurrent 10% tariff increase remains, the perceivable trade deal could slow the additional 25% increase on another $50 billion worth of Chinese goods, indefinitely.
The U.S. President has alluded to an extension of the previous March 1st
deadline yet again, if talks with China conclude in a progressive manner. Sunday's (2/14/19) address to extend the China tariff deadline marks the second postponement. The original date for additional tariff implementation was the end of 2018 as international freight forwarding saw a simultaneous upsurge on the imports side.
Data surrounding time frame specificity of tariff enactment or status of trade negotiations remain unclear.
For an updated brief on the third tranche of duties as outlined by Section 301 in the U.S. Customs and Border protection reference guide: https://www.cbp.gov/trade/programs-administration/entry-summary/section-301-trade-remedies
For a comprehensive resource regarding trade remedies and Frequently Asked Questions: https://www.cbp.gov/trade/programs-administration/entry-summary/section-301-trade-remedies/faqs
Partnering with the right logistics provider who can also consult on appropriate supply chain procedures could mean the difference in excessive duty rates and cost-effective project management.