The Increase 25% Tariffs on $200 Billion in Chinese Goods is Effective Friday BUT only if they are EXPORTED on or after May 10 (From Grunfeld Desiderio and Meeks Sheppard)
“Effective with respect to goods (i) entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on May 10, 2019, and (ii) exported to the United States on or after May 10, 2019.”
Meeks and Shepard further opine: PLEASE NOTE THAT THE UNUSUAL LANGUAGE FOR THE TIMING OF THE INCREASE MAY BE A DEFERRED ACTION INTENDED AS A CARROT FOR THE CHINESE TO FAVORABLY FINALIZE AN AGREEMENT, WITH THE MAIN BENEFIT REALIZED FOR OCEAN SHIPMENTS (AIR SHIPMENTS EXPORTED BEFORE MAY 10TH WOULD HAVE A MINIMAL REPRIEVE).
For further info, please go to the Federal Register notice at:
https://www.federalregister.gov/public-inspection/current
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Lee Hardeman LeeH@LHCB.com Direct: 404-477-3452
Sandy Cato SandyC@LHCB.com Direct: 404-477-3454
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