India to Lose GSP Status with USA on June 5, 2019
On May 31, 2019, President Trump announced that India would lose its Generalized System of Preferences (GSP) status effective June 5, 2019. India’s GSP status is being revoked because President Trump feels that India is not providing the U.S. “equitable and reasonable access to its markets.” India’s loss of GSP status follows Turkey’s, and comes on the heels of a...
Vietnam Exports to USA Surged in Q1 2019
Vietnam was one of the fastest-growing sources of American imports from Asia last quarter, and could potentially overtake the U.K. as a bigger supplier to the U.S. Imports from Vietnam jumped 40.2% in the first three months of 2019 from a year earlier. At the same time, American imports of Chinese commodities plunged 13.9% as trade tensions between the two...
Section 301 China Import Tariff Duty Rates (List 3) Raised to 25%
On May 10, 2019, the Office of the U.S. Trade Representative (USTR) increased the duty rate for all commodities in USTR List 3 made in China to 25%. The 25% duty rate will be applied to all commodities in List 3 that departed for the United States after 12:01 a.m. EDT on May 10, 2019 and will enter the United...
Duty Refund – Section 301 China Import Tariff (Updated April 18, 2019)
The U.S. Trade Representative (USTR) announced a third list of excluded commodities from the China Import Tariff on April 18, 2019. Similar to the first and second group of excluded commodities, a company may submit a Post Summary Correction (PSC) to US Customs to apply for a duty refund. The duty refund exclusions are retroactive from July 6, 2018 and...