On Sunday, May 5, the Administration announced that List 3 of the S301 tariffs, which are currently at 10% on $200 billion of Chinese imports, will be increasing to 25% effective Friday, May 10, 2019. Trade talks continue with China but are not progressing as hoped.
List 1 and List 2 were implemented at 25% and some exclusions have been granted on those two lists. However, no exclusion mechanism has been granted thus far on the List 3 tariffs while at 10%. With List 3 moving to 25% it is expected that a tariff exclusion option will be provided by the United States Trade Representatives.
Further discussion included a possible List 4 which would encompass the remaining tariffs that have not been included thus far.
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