United States and China Agree to 90 Day Moratorium on New Trade Tariffs

The U.S. and China have agreed to a 90-day suspension regarding the implementation of new import tariffs while they work on a negotiated settlement. Existing tariffs already enacted by either country will remain in effect, but new tariffs will be delayed subject to ongoing negotiations between the two countries aimed at resolving their trade disputes.

Specifically, U.S. Section 301 tariffs (‘duties’) will continue at 25% for List 1 and List 2 products from China. Chinese List 3 products will continue to attract the current Section 301 tariff of 10% – previously scheduled to increase to 25% on January 1st, 2019 – is suspended pending the outcome of negotiations between the countries.

Similarly, Chinese tariffs already in place will remain but further tariffs on U.S. products will be paused for 90 days.

Reports indicate China has also agreed to substantially increase its purchase of American goods, including agricultural and energy products, to help off-set existing trade deficit between the two parties.

Please contact your local Delmar International representative or our North American Customs Advisory Services Group at advisoryservices@delmarusa.com for additional information and assistance.

Additional Reference:

China Section 301 Investigation

U.S. Press Release

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s