China Announces Second Round of Tariff Exclusions for U.S. Goods
© , Sandler, Travis & Rosenberg, P.A. Originally published in the [05/14/2020] issue of the Sandler, Travis & Rosenberg Trade Report. Reprinted by permission.
China announced May 12 the second round of exclusions from its additional 25 percent tariff on imports of U.S. goods. These exclusions apply to 79 products (see attached for a complete list), including rare earth mineral ores, aircraft radar equipment, semiconductor parts, medical disinfectants, and various precious metals and chemical and petrochemical products.
These exclusions will be effective from May 19, 2020, to May 18, 2021. Importers of record will be eligible for refunds of the additional tariffs paid on these goods and will have six months to apply.
For U.S. goods still subject to China’s additional tariffs, there are alternatives to mitigate the impact. These include applying for market-based exclusion, restructuring global supply chains, etc.
For more information, or for assistance in obtaining tariff refunds or developing an effective tariff mitigation strategy, please contact Harry Zhang.