China 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 as other tariffs. Commerce Secretary Wilbur Ross indicated that there wasn’t much time left to secure a trade deal before then so it appears that for now, the December 15 tariff hike of 15% is still going to happen.
We will continue to monitor the situation and advise of any further developments.