In the latest installment of Five Questions, Five Answers, host Birgit Matthiesen is joined by International Trade & Investment Partner Leah Scarpelli to discuss the recent developments in US-China tariffs, specifically the Section 301 tariffs.
Birgit and Leah delve into the potential implications of a 100% tariff on electric vehicles (EVs) from China, the May 14 conclusion of the Biden Administration's review of these longstanding tariffs, the Office of the US Trade Representative’s (USTR) proposal that the tariffs will continue but most product exclusions will not, and the White House's call for public comment on these proposals.
Highlights of the conversation include:
An in-depth analysis of the USTR's four-year review and its proposed changes.
The continuation and potential expansion of existing tariffs in certain sectors.
The introduction of a limited exclusion process for requesting exclusions from the tariffs.
The importance for importers to understand their supply chain and confirm the country of origin for shipments.
The encouragement for companies to submit public comments on the proposed modifications to the tariffs.