On March 22, 2018, President Trump signed a memorandum imposing additional tariffs on specific imports into the United States from China. A press release issued by the Office of the US Trade Representative (USTR) cites Section 301 of the Trade Act which allows the United States to implement measures to address unfair acts, policies and practices of trading countries.
The signed proclamation puts into action the following:
- Tariff increases on specific products from China
- Dispute settlement at the WTO regarding technology licensing practices
- Investment restrictions facilitated in the US by China
What happens next?
The USTR will publish a list of product and tariff increases within 15 days for comment by the public.
For the full press release on the Office of the US Trade Representative’s website, please click here.
Buckland is pleased to share this update and we hope that this information will be useful and beneficial. We will continue to monitor this situation and will provide updates through these notices, as well as on our social media accounts.
As a customer-focused company, we provide you with a single source of unmatched Customs Brokerage (Canadian, US, Mexican), Trade Managed Solutions, Freight Forwarding, Trade Technologies and Warehousing / Distribution Services. If you have questions, please reach out to Buckland today.