On September 17, 2018, the United States Trade Representatives (USTR) finalized its list of Chinese imports subjected to additional tariffs. Covering 5,745 line-items, the USTR estimates that these tariffs will equate to approximately $200 billion in new taxes imposed on Chinese imports. Unfortunately, this list includes Iron Oxides (Section 301, List 3, Subheading 2821.10.00).
Effective September 24, 2018, this new policy will impose a 10 percent tariff on the covered Chinese imports and is expected to increase to 25 percent on January 1, 2019. For more information, please see the USTR’S press release.
While this news is disappointing, and hopefully temporary, Yipin USA is working with Yipin China and all our raw material suppliers, in attempts to reduce costs, and mitigate the impact these new tariffs may have on our customers. If you have any questions, please feel free to contact our sales team.
Thank you once again for being a part of the Yipin USA family.