President Trump has signed an Executive Order to delay additional tariffs on Chinese imports for another 90 days. The original tariff deadline was to expire at midnight tonight, but the new deadline will keep tariffs at current levels until November 10th, 2025. The current levels are:
- Baseline rate: 10%
- Fentanyl-related tariff: 20%
- Subtotal rate: 30%
- All other tariffs assessed on Chinese imports, including Section 301 tariffs, Section 232 tariffs, and Most Favored Nation tariffs as applicable
We want to reiterate again CBP’s focus on declared customs values and product origins. The agency is “aggressively combatting” activities and efforts importers are taking to evade duties. More than 55k shipments have been targeted for reviews by CBP this fiscal year, and it’s claimed over $27B in additional review from so called tariff cheaters.
2024 Fiscal year comparable claims totaled just $668M, highlighting the increased enforcement efforts.
We also wanted to include some resources we think you will find beneficial:
We’ve updated our Tariff FAQ – the latest version is here.
Bond Saturation, Foreign Trade Zones and Bonded Warehouses
Our recent webinar provides you with information to reduce the risk of strain on your bond, and strategies for leveraging FTZs and bonded warehouses.
Drawback
There are lots of ways you can reclaim duties paid on goods that don’t remain in the US – watch this webinar to learn more.
Verifiable Credentials, GBI, Country of Origin Mapping and Values
Please review this webinar to understand how you can further authenticate COO and a secure supply chain.
