United States and China Reach Phase One Trade Agreement – No December 15 Rate Increase
This news just announced by the Office of the United States Trade Representative – the December 15, 2019 additional 15% tariff on China goods will NOT go into effect. In addition, there may be a decrease on some imports as the article hints below. The full article can be found here on the US Trade Representative web page. C J International will continue to monitor the situation and keep you informed. [...]
Read MoreChina Tariff Scheduled For December 15, 2019 As Scheduled
As previously reported, the three-phase deal with China suspended the additional 5% tariff (from 25% to 30%) on Lists 1, 2, and 3 on Chinese goods. At that time, this deal did not include those products on List 4B where a 15% additional tariff is slated for December 15, 2019. Two days ago, while at the NATO summit, President Trump announced he may wait until after the 2020 election to make a deal with China on these as well [...]
Read MoreChina Tariff Scheduled For October 15, 2019 Suspended
The 30% China Tariffs that were to take place effective today October 15, 2019 will not go into effect according to the White House. Treasury Secretary Steven Mnuchin announced on Friday the suspension of the additional duties from 25% to 30% on products on Lists 1, 2 and 3. This three-phase deal with China, however, does not affect the increased tariffs scheduled for December 15, 2019 for those products on List 4B nor does it affect any oth [...]
Read MoreEU Goods Tariff Hike Effective October 18, 2019
A 25% tariff hike has been announced by the U.S. Trade Representative on over 150 items imported from the European Union countries as well as a 10% hike for new aircraft from France, Germany, Spain and the U.K. These additional tariffs are a result of a determination by the USTR that U.S. rights under a trade agreement are being denied and that subsidies provided by the EU and certain member States violate provisions of this agreement. [...]
Read MoreCustoms Broker Verification of Importer’s Identity – Customs Proposed Rule
Customs has issued a Notice for Proposed Rule Making – Customs Broker Verification of Importer’s Identity. C J International believes this proposed legislation will be an added burden on the brokers and clients by creating more work and added cost in time and money to all importers. As broker, we will be required to go through a labor intensive process to re-validate existing Powers of Attorney. As the importer/client, are you prepared t [...]
Read MoreAnother Round of Exclusions to China List 1 and 2
The U.S. Trade Representative initiated the exclusion process in July 2018 with retroactive funds available. On September 27, 2019 the U.S. Trade Representative granted yet another set of exclusion requests. Below are the most recent exclusions from the Section 301 additional 25% on Lists 1 and 2 from China published in the Federal Register today October 2, 2019. List 1 exclusions are retroactive to July 6, 2018 through October 2, 2020 [...]
Read MoreMore China List 1, 2 and 3 Tariff Exclusions Announced
The U.S. Trade Representative initiated the exclusion process in July 2018 with retroactive funds available. Stakeholders have submitted requests for the exclusion of specific products and in December 2018, March 2019, April 2019, May 2019, June 2019, and July 2019 the U.S. Trade Representative granted exclusion requests. Below are the most recent exclusions from the Section 301 additional 25% on Lists 1, 2, and 3 from China. List 1 exclusion [...]
Read MorePresident Trump Announces Two Week Delay on Next Tariff Increase
As previously reported tariffs on $250 billion worth of Chinese goods were scheduled to rise to 25% from 30% on October 1. This deadline has now been pushed back. Through a couple of tweets on September 11, 2019, President Trump announced he will delay from October 1 to October 15 the planned increase from 25% to 30% on List 1, 2 and 3 imports from China. This announcement comes as the result of China’s announcement earlier that day [...]
Read MoreRenegotiating Selling Price in Response to Tariff Increases – How you can Minimize the Impact of Additional Tariffs
Due to recent increases in tariffs a number of foreign suppliers have been willing to renegotiate their selling price to at least partially compensate for the additional cost of the goods they manufacture. A reduction of the cost of goods translates into a reduction of duty you pay. Depending on your relationship with your supplier, and the type and volume of goods you purchase from that supplier, it may be beneficial for you to request a l [...]
Read MorePresident Trump to Increase Existing Tariffs – Again – on Chinese Goods
On August 23, 2019 President Trump, in retaliation against China’s latest tariffs on U.S. products, tweeted “Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%...” He went on to add that the remaining $300 billion of goods and products from China that were slated for 10% tariff as of September 1, 2019 and December 15, 2019 will now increase to 15%. [...]
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