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News / Industry News

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China Tariffs: Second List Finalized, Becomes Effective August 23

On August 7, 2018, the Office of the United States Trade Representative (USTR) released the second list (List 2 – Final) of approximately $16 billion worth of imports from China that will be subject to a 25 percent additional tariff as part of the U.S. response to China’s unfair trade practices related to the forced transfer of American technology and intellectual property. This second list of additional tariffs under Section 301 follows the first list of tariffs on approximately $34 billion of imports from China, which went into effect on July 6, 2018.

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July 2018 Manufacturing ISM® Report

July 2018 Manufacturing ISM® Report On Business®

Source: Institute for Supply Management

Economic activity in the manufacturing sector expanded in July, and the overall economy grew for the 111th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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Free Trade Agreements Move Forward

Three trade agreements, the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Japan-EU Economic Partnership Agreement (JEEPA) have all moved forward in negotiations and/or ratification in recent weeks.

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USTR Proposes Additional Import Tariffs on Products from China

On Tuesday, July 10, 2018, the United States Trade Representative (USTR) released the proposed list of Chinese products that could be subject to an additional 10 percent tariff, a proposed modification to the earlier actions taken in the U.S. Section 301 investigation of the acts, policies, and practices of the Government of China related to technology transfer, intellectual property, and innovation.

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JUNE 2018 MANUFACTURING ISM® REPORT

June 2018 Manufacturing ISM® Report On Business®

Source: Institute for Supply Management

Economic activity in the manufacturing sector expanded in June, and the overall economy grew for the 110th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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NRF Import Cargo Volume

Retail Imports to Set New Record this Month as Consumers Spend and Tariffs Take Effect

Source: National Retail Federation

Driven by increasing consumer demand and rising retail sales, imports at the nation’s major retail container ports are expected to set a new record this month even though new tariffs on goods from China just took effect, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Retailers cannot easily or quickly change their global supply chains, so imports from China and elsewhere are expected to continue to grow for the foreseeable future,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “As tariffs begin to hit imported consumer goods or the parts and equipment needed to produce U.S. goods, these hidden taxes will mean higher prices for Americans rather than significant changes to international trade.”

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USTR Releases China Tariff Exclusion Process

On Friday, July 6, 2018, the effective date of the new U.S. Section 301 tariffs, the United States Trade Representative (USTR) published the procedure on how companies can request exclusion from the tariffs on specific products from China.

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Additional Duties Could Impact Your Continuous Bond Sufficiency

July 6, 2018 marks the effective date of the U.S. Section 301 25% duties on imports of Chinese-made products included in this list: Chinese Line Items. U.S. importers should be aware that they may need to increase their bond amounts to address the increase in duties on these specific imported goods.

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China Tariffs

The Office of the United States Trade Representative (USTR) today released a list of products imported from China that will be subject to additional tariffs as part of the U.S. response to China’s unfair trade practices related to the forced transfer of American technology and intellectual property.

The list of products issued today covers 1,102 separate U.S. tariff lines valued at approximately $50 billion in 2018 trade values. This list was compiled based on extensive interagency analysis and a thorough examination of comments and testimony from interested parties. It generally focuses on products from industrial sectors that contribute to or benefit from the “Made in China 2025” industrial policy, which include industries such as aerospace, information and communications technology, robotics, industrial machinery, new materials, and automobiles. The list does not include goods commonly purchased by American consumers such as cellular telephones or televisions.

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Import Cargo Volume

Retail Imports to Hit Record Numbers This Summer Despite Tariff Debate

Source: National Retail Federation

Imports at the nation’s major retail container ports are expected to set record numbers this summer and fall even as the debate over trade and tariffs continues in Washington, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Consumers are buying more and that means retailers are importing more,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Imports continue to be the primary source of high-quality, mass-produced necessities at affordable prices and will be for the foreseeable future. If tariffs are imposed on consumer goods, that will only drive up prices for American families while doing little or nothing to punish those responsible for unfair trade practices.”

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