What you need to know about 25% Import Tax from China to USA, a 90-day Ceasefire

What you need to know about 25% Import Tax from China to USA, a 90-day Ceasefire

If you are seller or business owner from US and importing products/goods from China, here’s an update from last week G20 Summit, Mr. Trump withdrew his threat to raise the US tariffs even more from 10% to 25% of Chinese goods on January 1, in return for a promise from China to buy more US goods and enter into a 90-day period of talks to resolve their differences

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US-China trade war: Deal agreed to suspend new trade tariffs 

But it says the US tariffs on Chinese goods will remain unchanged for 90 days and warns: “If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent.”

What are the products/goods affected?

US imports coming from China subject to 25% additional duty, the Office of the United States Trade Representative (USTR) released a list of products imported from China that will be subject to additional tariffs as part of the U.S. response to China’s unfair trade practices, read here for the memorandum article and product list:

USTR Issues Tariffs on Chinese Products in Response to Unfair Trade Practices

And here are the Full list of 128 US products targeted by China’s reactive tariffs, read here for the memorandum article and product list:

Notice of the Ministry of Commerce on Public Consultation on 232 Measures for Importing Steel and Aluminum Products in the United States and Chinese Countermeasures

 

What you need to do?

Here are a few tips you’ll want to think about when you’re doing import/export trading.

1.    Understand Your Compliance Responsibilities

  • Be familiar with U.S. & China trade policies, laws and regulations.
  • Properly categorize what you’re shipping and determine if you need a license to ship the goods.
  • You need to know and understand documentation requirements, paperwork needs for your products/goods and make sure it’s completed properly.

2.    Communicate Properly

In the trading world, building professional relationships is an absolute to success. Work with an experienced and reputable freight forwarder. And it’s one of the key partnerships exporters must have. Freight forwarders depend on exporters for all the details—dimensions, weight, destination cities, airports, etc. because they don’t have the means to check on goods that aren’t located in their facility. And after all, no one knows your product/good better than you do!

 

Allow B2C Sourcing to help and guide you for your freight forwarding needs; Contact us today to learn more about our services. Call (86) 0574 87144921 or email us at info@b2csourcing.com

 

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