Trade Updates from A.N. Deringer

The following is provided by AIV member A.N. Deringer.

USTR Grants 16 Extensions for Section 301 List One Exclusions, Set to Expire June 4

The US Trade Representative (USTR) has extended sixteen exclusions from list one of the Section 301 tariffs imposed on Chinese imports. The exclusions, which were set to expire on June 4, will be extended through December 31, 2020, and are retroactive to July 6, 2018. The extended exclusions will be included under the new subheading 9903.88.50. Seventy-two exclusions are still set to expire on the June 4.

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Hong Kong’s Special Trade Privileges to Be Revoked

On Friday, May 29, the President announced that the US would begin the process of revoking Hong Kong’s special trade status, which would take away its treatment as a separate customs territory. The move is a result of the national security powers China is imposing on Hong Kong, which is seen as a loss of autonomy from Chinese rule.

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New Process for the Payment of Softwood Lumber Assessments, and Changes for Small Importers 

Beginning July 1, importers of softwood lumber will pay assessments to US Customs and Border Protection (CBP) instead of to the Softwood Lumber Board (SLB). Companies that ship 15 million board feet (mmbf) or more of softwood lumber to the US annually must pay an assessment of $0.35/thousand board foot.

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A.N. Deringer, Inc. is a leading provider of international logistics services including freight forwarding, warehousing & distribution, Customs brokerage, Customs and trade consulting, cargo insurance, and meat inspection. Deringer combines over 30 US offices with a global agency network to facilitate the movement of cargo throughout the world.