Source: Institute for Supply Management – August 6, 2020
Economic activity in the manufacturing sector grew in July, with the overall economy notching a third consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Importers of goods manufactured in China who have been taking advantage of the one-year Section 301 China tariff exclusions are discovering that their exclusions are now expiring, subjecting their imports to the 25% (List 1-3) or 7.5% (List 4A) tariffs.
The United States Trade Representative (USTR) office recently released its sixth and seventh lists of product exclusions to the Section 301 List 4A products currently subject to a 7.5% tariff.
On Thursday, July 16, 2020, the United States Trade Representative (USTR) announced in the Federal Register Notice 85, No. 137 FR 43292, that effective January 6, 2021, the United States will impose a 25 percent tariff on $1.3 billion of imports from France. The 21 items affected include cosmetics, soaps and handbags as specified in the notice and at the bottom of this trade alert.
Beginning on December 28, 2019, many of the exclusions related to the China List 1 Harmonized Tariff Schedule (HTS) numbers expired unless the United States Trade Representative (USTR) office chose to extend them. All exclusions and extensions can be found on the USTR website.
Source: National Retail Federation Press Release – July 8, 2020
Imports at major U.S. retail container ports are expected to remain significantly below last year’s levels into this fall as the impact of the COVID-19 pandemic continues, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Source: Institute for Supply Management – July 1, 2020
Economic activity in the manufacturing sector grew in June, with the overall economy notching a second month of growth after one month of contraction, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
On Tuesday, June 30, 2020, the Bureau of Industry and Security (BIS) announced with immediate effect that it is suspending any license exceptions for export to Hong Kong, reexports to Hong Kong and transfers (in-country) within Hong Kong of items subject to the Export Administrations Regulations (EAR), 15 CFR Parts 730-774 that provide differential treatment than those available to the People’s Republic of China.
On Friday, June 12, 2020, the United States Trade Representative (USTR) office released its fifth list of product exclusions to the Section 301 List 4A products currently subject to a 7.5% tariff in the Federal Register Notice 85 No. 114 FR 35975.
Source: National Retail Federation Press Release – June 8, 2020
The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
