On August 23, 2019, President Trump announced via Twitter that the tariff rates on Lists 1, 2, and 3, worth approximately $250 billion worth of goods imported from China, will increase from 25% duty to 30% beginning October 1, 2019. Additionally, the President indicated that the tariff rate on the List 4 tariffs currently set to begin on September 1 will increase to 15% from 10%. It is unclear if the tariffs currently set to go into effect on December 15 will also be increased to 15%.
This action comes after China announced retaliatory tariffs of between 5-10% on approximately $75 billion worth of U.S. imports that will begin in two stages that will mirror the United States’ List 4 tariffs, on September 1, 2019 and December 15, 2019.
We will continue to monitor this situation and will provide future updates as developments occur. Please contact Husch Blackwell’s International Trade and Supply Chain team for more information.