U.S. Extends Tariff Exclusions for Chinese Goods
The U.S. Trade Representative announced the extension of tariff exclusions for specific Chinese products under U.S. note 20(vvv), effective from June 15, 2024, to May 31, 2025. This applies to certain articles entering the U.S. market.
June 10, 2024
Impact: This extension provides temporary relief for U.S. importers dealing with affected Chinese goods, potentially stabilizing prices and supply chains for these products.
Trade Policy Update Affects U.S.-China Imports
Ahead of the effective date of June 15, 2024, U.S. officials clarified the scope of exclusions for Chinese products under HS codes covered by U.S. note 20(vvv), aiming to balance trade relations and domestic interests.
June 5, 2024
Impact: Businesses importing from China may benefit from reduced tariff burdens, encouraging continued trade while policy reviews are ongoing.
U.S. Trade Representative Confirms Exclusion Period for Chinese Imports
The U.S. Trade Representative finalized the exclusion period for specific Chinese articles under U.S. note 20(vvv), setting the timeframe from June 15, 2024, to May 31, 2025, impacting various industries.
May 28, 2024
Impact: This policy offers predictability for U.S. companies reliant on Chinese imports, allowing for better financial and operational planning during the exclusion period.
