The U.S. Congress directed the Office of the U.S. Trade Representative to initiate an exclusion process for tariffs imposed on products included in List 3 of the Section 301 tariffs leveled at imported goods from China. That includes marine equipment and accessories.
This story originally appeared in Trade Only Today.
The National Marine Manufacturers Association said in its Currents newsletter that it helped to promote the legislation, which will be a “win” for the boating industry.
“While not legally binding, the order — known as a joint explanatory statement — calls on the USTR to initiate the exclusion process no later than March 17,” said the Currents story. “Congress also instructed USTR to follow the same exclusion procedures established for Lists 1 and 2, allowing for the exclusion of particular products classified within a tariff subheading subject to List 3 duties.”
Duties on List 3 products are scheduled to increase from 10 to 25 percent on March 2. The NMMA said that ongoing negotiations between the U.S. and Chinese governments could prevent that increase.
