Trump Executive Order Pauses China Tariffs Another 90 Days
U.S. tariffs which were set to take effect on China produced goods at 12:01 a.m. ET, Aug. 12, have been delayed by President Trump through an Executive Order for another 90 days, so that both the U.S. and China have more time to finalize a trade deal.
“The United States continues to have discussions with the PRC to address the lack of trade reciprocity in our economic relationship and our resulting national and economic security concerns,” President Trump's Executive Order said. “Through these discussions, the PRC continues to take significant steps toward remedying non-reciprocal trade arrangements and addressing the concerns of the United States relating to economic and national security matters.”
The 90-day tariff pause will be in effect until 12:01 a.m. on Nov. 10, unless a trade deal is reached between the U.S. and China in the interim.
In addition, the Executive Order stated that there is a continued suspension of country-specific ad valorem rate of duty. Heading 9903.01.63 and subdivision (v)(xiv)(10) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS shall continue to be suspended until 12:01 a.m. ET on Nov. 10.
he U.S. and Chinese governments, after meeting in Geneva, Switzerland, on May 10-11, announced a joint plan to begin deescalating tariffs, starting May 14. Since April, the two sides have deescalated tariffs from 145% for China product imports into the U.S. and China imposing a 125% tariff on U.S. goods imports. When both countries’ trade negotiators met in Geneva in May, the U.S. agreed to reduce its tariff on Chinese goods to 30% and China responded by reducing its tariff on U.S. goods to 10%.
The NCBFAA Customs Committee and Counsel of Sandler, Travis & Rosenberg will monitor the delayed imposition of tariffs on China product imports, as well as track pertinent Customs and Border Protection (CBP) guidance, and present this information to our members as received.
NCBFAA will continue to keep our members updated about the U.S. tariffs through the Monday Morning eBriefing and eblasts, and a dedicated IEEPA Tariffs webpage on our website.
