On September 21, 2018, the U.S. Trade Representative (USTR) announced Modification of Action in Section 301 for the imposition of additional import duties on goods imported from the People’s Republic of China.
Commonly referred to in the trade as “List 3”, the rate of additional duties was initially set at 10 percent and they are currently in effect since September 24, 2018. Announced by the mentioned September 21 notice, those duties were set to increase to 25% on January 1, 2019, but later at the G20 Summit in Argentina in early December 2018, the U.S agreed to postpone the duty increase for a period of 90 days. Rolling the effective date to March 2, 2019. But the question most people are asking is: Exactly what products are included in this list?
There are currently 3 lists included under section 301 covering more than 6,000 products.
– List #1 Went into effect on July 6, 2018 and imposes a 25% Duty.
– List #2 Went into effect on August 23, 2018, and also imposes 25% duty on goods imported from China.
– List #3 went into effect on September 24, 2018 and is the biggest one released with 5,745 products and imposes a 10% duty, but this might go up also to 25% on March 2, 2019.