Section 301 News
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The recent activity regarding Section 301 tariffs have caused major changes for the import and export industry. List 1 and List 2 have been in effect since July, but the final list has officially been released and has been effective since September 24th of this year. List 3 includes a variety of imports from China which include products like chemicals, textiles, metal, and electronics. Tariffs for List 3 were set at an ad valorem rate of 10 percent but will increase to 25 percent at the beginning of the new year. List 3 targets about $200 billion worth of Chinese imports and unlike List 1 and List 2, there is no indication that there will be any kind of exclusion process for products in the final list.
Though List 3 was released less than a month ago, the administration threatened China with a potential List 4. This threat by the U.S. was publicly stated saying that if China retaliates against farmers or any other industries, they will begin to launch a process that aims to increase tariffs on an additional $267 billion worth of goods.
Because of these drastic changes in the industry, claiming duty is much more compelling. That being said claiming drawback is no simple process. Duty Calc is your number one resource for claiming up to 99% of the duty paid upon import. Through Duty Calc you have a full-service drawback option or, like many of our customers, you can do it yourself by using our easy to use drawback software. Our customer service team is always here to help so feel free to contact us with any questions. Our contact information can be found on the home page. Get a head start in claiming all the drawback available to you through our services. Act before it is too late.
