On July 6, 2018, in an attempt at stopping China's unfair trade practices related to the forced transfer of American technology and intellectual property, the U.S. government imposed 25% tariffs on $34 billion worth of imports from China. On August 7, the U.S. Trade Representative announced an additional list of $16 billion worth of Chinese imports that will be subject to the 25% tariff. The Trump administration is also considering 25% tariffs on $200 billion more imports from China. Now is the time to ask these essential questions about how this impacts your own business:
-Will your U.S customs bonds continue to be sufficient?
-Do you need any assistance with exclusions?
-How can you determine if your products are included in these proposed increases?
To learn more about what your options are, the effect on your industry, and how you can limit your exposure to these tariffs, contact us today!