On Sunday, February 24th President Trump announced that he is postponing the rate increase for the List 3 Section 301 trade remedy duties that was scheduled for implementation on March 2nd . A new deadline was not provided.
In order for the delay to legally take effect, the Office of the U.S. Trade Representative must issue a notice in the Federal Register. At that point U.S. Customs and Border Protection will update its HTS database to allow ACE to accept entry summary transmissions calculating 10 percent additional duty rather than the previously scheduled 25 percent.
Schenker is closely monitoring for these updates so that we can ensure the proper rate is applied to entries on List 3.
Please contact your Schenker brokerage branch if you have any questions regarding the Section 301 duties.