UPDATE: The Date of Export (Not the Date of Import) will determine the Increase in Section 301 Duties for List 3 Goods
Today, the United States Trade Representative (USTR) issued the official version of the notice advising the Trade of an increase in duties from 10% to 25% for goods listed in the third list of products from China. The wording of this notice created much confusion in the Trade as to the actual date of implementation. In a conference call with CBP today, they confirmed that the increase applies to goods exported from China on or after May 10, 2019. This is very different than how this has been done in the past, when the date of import was the determining factor.
This is good news for our industry as there is now additional time for the U.S. and China to reach an agreement before the increased duties take effect.
The clarification provided today confirms that goods exported from China prior to May 10, 2019 will remain subject to the 10% duty rate, and goods exported on or after May 10, 2019 will be subject to the 25% duty rate.