The office of the U.S. Trade Representative (USTR) confirmed intent to impose Section 301 tariffs ranging from 10-12.5% on imports from 60 countries and economies. The tariffs are designed to target imports from countries which have no policy in place prohibiting imports produced by forced labor. An estimated 99.4% of US imports will be affected by the tariff, which includes exceptions including oil and gas products, fertilizers, and certain food products.
Sec. 301 tariffs replace President Trump's temporary 10% "global tariff", and took effect "with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. ET on Friday, July 24, except that goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12:01 a.m. ET on July 24 and entered for consumption or withdrawn from warehouse for consumption before 12:01 a.m. ET on July 28 shall not be subject to such additional duty."
The imported products which are impacted by these Section 301 tariffs and related HTS numbers, as well as those products which are exempt, are listed in this Federal Register notice.
OTS will continue to monitor these evolving issues and provide updates. Please contact your OTS Sales Representative for additional information.