Tariffs in the United States

04 Feb Tariffs in the United States

Tuesday 4th February. from Jill James (John S. James Co. USA)

The Trump Administration announced on Saturday, February 1st, that increased tariffs would go into effect for all products with origins from Canada, Mexico and China.  The announcement was for 25% rate increase for Canada products, 25% rate increase for Mexico products, and 10% rate increase (on top of current increased tariffs) for China.  The announcement noted the increases would go into effect on February 4th

 

However, as of late this afternoon, the increases for Canada and Mexico are being postponed for 30 days based on discussion/negotiations today between the countries.  The increase for China products remains in place and begins on February 4th.  China origin (country of origin) cargo loaded onto a vessel at the port of loading, or in transit on the final mode of transport, before February 1, 2025, and if entered before March 7, 2025 is exempt from the increase.

We will keep you posted of any further developments.

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