President Trump Delays Deadline for 301 Tariff Increase
On Sunday, Feb. 24, President Trump announced that he would extend the deadline for the anticipated tariff increase on Chinese goods under subject "list three" of his Section 301 tariffs. Originally scheduled to take effect on March 1, the action would have raised existing ad valorem tariffs from 10 to 25 percent on a wide array of Chinese agricultural and manufactured goods exports, valued at an estimated $200 billion. No new deadline has been set.
More specific to The Vision Council membership, this means that Chinese-origin eyeglass cases, lens solutions and low vision magnifiers, which are subject to the additional 10 percent duty, will remain the same at this time, rather than increase to 25 percent on March 1. We also interpret President Trump's announcement as decreasing the likelihood that additional duties on Chinese-origin frames, lenses, sunglasses, reading glasses and various low vision devices will be announced in the near future. With that said, in the event that the ongoing trade negotiations with China were to end without a resolution of the trade war, President Trump could issue a new list of products for additional tariffs and this list could contain all remaining optical products.
Any questions about this issue can be directed to Rick Van Arnam, The Vision Council regulatory counsel, at firstname.lastname@example.org.