EXPEDITORS INTERNATIONAL OF WASHINGTON INC. In a press release published on May 14, 2024, the Office of the United States Trade Representative (USTR) announced proposed changes to Section 301 tariffs on certain goods from the People's Republic of China (PRC).
At the direction of President Biden, U.S. Trade Representative Katherine Tai has proposed the following modifications to Section 301 duties in 2024:
Battery parts (non-lithium-ion batteries) | Increase rate to 25% in 2024 |
Electric vehicles | Increase rate to 100% in 2024 |
Facemasks | Increase rate to 25% in 2024 |
Lithium-ion electrical vehicle batteries | Increase rate to 25% in 2024 |
Other critical minerals | Increase rate to 25% in 2024 |
Ship to shore cranes | Increase rate to 25% in 2024 |
Solar cells (whether or not assembled into modules) | Increase rate to 50% in 2024 |
Steel and aluminum products | Increase rate to 25% in 2024 |
Syringes and needles | Increase rate to 50% in 2024 |
Additionally, certain products including semiconductors, medical gloves, and natural graphite will see an increase in duty rate in 2025 and 2026.
An exclusion process for machinery used in domestic manufacturing, including certain solar manufacturing equipment, was also proposed.
The USTR announced that it will release a Federal Register notice in the week of May 20, 2024, with more details on the proposed changes, procedures on how to provide comments, and the domestic manufacturing exclusions.
The USTR press release can be found here:
https://ustr.gov/about-us/policy-offices/press-office/press-releases/2024/may/us-trade-representative-katherine-tai-take-further-action-china-tariffs-after-releasing-statutory
The full report of the statutory four-year review can be found here:
https://ustr.gov/sites/default/files/05.13.2024%20Four%20Year%20Review%20of%20China%20Tech%20Transfer%20Section%20301%20(Final)%20rev.pdf
The fact sheet published by the White House can be found here:
https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/14/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices/
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Expeditors International of Washington Inc. published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 11:00:36 UTC.
