On August 1, 2019 President Trump announced via Twitter that, beginning on September 1, the United States will impose additional Section 301 duties of 10% on Chinese-origin products with an annual trade value of approximately $300 billion, covered by List 4.
President Trump had agreed in June 2019 not to impose more tariffs while the two sides tried to reach a trade deal, but said that China has reneged on its agreement to buy agricultural products from the United States in large quantities, and also did not fulfill its commitment to stop the sale of fentanyl into the United States.
Now that President Trump has announced that additional duties on almost all remaining Chinese-origin products will begin one month following the announcement, US companies engaging in business with China need to assess their duty exposure. List 4 reinforces the importance of those companies working to make their trade function and supply chains as efficient as possible.
Companies in previously unaffected industries need to re-examine their import profiles and supply chains, including the use of available analytical tools, to determine potential impacts and explore mitigation strategies.