President Trump Increases Third List of China Duties; Remaining Chinese-Origin Products Threatened with Additional Tariffs
Earlier today, the administration announced that it will in fact raise the China 301 duties from 10 percent to 25 percent, currently being assessed on approximately $200 billion worth of Chinese-origin merchandise. The increase takes effect today—Friday, May 10—with the exception of shipments of affected product exported before May 10, 2019, and which will arrive in the US after May 10 but before June 1, 2019. These previously exported, "on the water" shipments will be assessed at 10% if they are entered before June 1. If they are entered after June 1, then the goods will be subject to the 25% duty.
As previously stated, this increase will impact The Vision Council's member companies importing Chinese-origin hand-held and stand magnifiers, eyeglass cases and cleaning solutions.
Additionally, President Trump still threatens to begin the process to assess 25 percent duties on all remaining products originating in China. If the administration goes through with this threat, Chinese-origin products such as frames, lenses, sunglasses, reading glasses and low vision devices will be impacted. The additional 25 percent China 301 duties are assessed in addition to any regular duties already assessed on imported products.
As always, The Vision Council will keep the membership informed on this topic and any new developments. Any questions about this issue can be directed to Rick Van Arnam, The Vision Council's regulatory counsel, at email@example.com.