Over the past few months, the United States and numerous other countries have pounded their chests, threatened, and began implementing tariffs on selected items being imported to or exported from the United States. While many of us are familiar with the current Administration’s tariff on steel and aluminum imports, and the retaliatory actions by those countries impacted, you may not be familiar with the other items that have, or may be, imposed with a tariff. The list is long, and includes such items as soy sauce, truffles, frog legs, toilet paper, and bamboo and rattan furniture. Among these items includes a proposed tariff on Iron Oxide Pigments (IOP), Titanium Dioxide (Ti02), and other pigments.
As many of you know, Yipin USA is a division of Yipin China which manufacturers the IOP that we sell to our customers. We have received several inquiries regarding these tariffs and are currently reviewing how these tariffs may impact our business.
Under the Proposed Modification of Action Pursuant to Section 301: China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation, the Office of the United States Trade Representative (USTR) is recommending “an additional 10 percent ad valorem duty on products of China with an annual trade value of approximately $200 billion.”
The USTR is currently seeking comments on this proposed rule, and have scheduled a hearing August 20-23, 2018, with post-hearing rebuttal comments due August 30th. Click here for more information.
We will keep our customers abreast of any developments associated with this matter, and encourage you to contact us, if you have any questions or concerns.
Thank you for being a part of the Yipin Family.