The Section 301 Tariff Modifications scheduled to be implemented on August 1 have been delayed. The US Trade Representative Office (USTR) announced the delay to give them more time to review the high volume of comments received during the open comment period. The modifications included a number of tariff increases covering battery parts, lithium-ion electric vehicle batteries, critical minerals, certain medical products, solar cells, and ship-to-shore cranes. It also famously increased tariffs on Chinese-made electric vehicles from 25% to 100%.
The USTR hopes to make an announcement sometime in August, with the final modifications taking effect two weeks later. These actions are part of a larger set of modifications to be phased in over the next two years.
Best Regards,
Sam McClure, LCB
Director of Compliance & Customs Services