President Trump to increase third list of China duties, remaining Chines-origin products threatened with additional tariffs.
President Trump tweeted his intent to raise the China 301 duties from 10 percent to 25 percent, currently being assessed on approximately $200 billion worth of Chinese-origin merchandise. The increase will take effect on Friday, May 10. The increase was originally scheduled for Jan. 1, 2019 but was held in abeyance while the United States and China negotiated on trade issues. These negotiations are ongoing, but the tariff rates will increase unless President Trump retracts his announced plan.
This increase will impact The Vision Council’s member companies importing Chinese-origin hand-held and stand magnifiers, eyeglass cases and cleaning solutions. Additionally, President Trump threatened in this Tweet to begin the process to assess 25 percent duties on all remaining products originating in China. If the administration goes through with this threat, Chinese-origin products such as frames, lenses, sunglasses, reading glasses and low vision devices will be impacted.
The additional 25 percent China 301 duties are assessed in addition to any regular duties already assessed on imported products.