By: Brian Walczyk, Compliance Manager, TradeInsights, LCB, CCS

The U.S. Trade Representative (USTR) Ambassador Greer issued a statement on September 27 following the announcement of recommendations from the U.S.-China Board of Trade.

More than 75 products covering 77 US HTS lines have been recommended for tariff reductions between the U.S. and China. The release does not mention if the 77 HTS lines will be set at Most Favored Nations (MFN) rates, or if the reduction will be adjustments to various Sec 301 tariffs that are currently placed on Chinese origin goods. It does not mention when the reductions will take place.

This 30-for-30 trade is a “direct result of the strong relationship between President Trump and President Xi, the United States and China, under the auspices of the new Board of Trade, have recommended $30 billion of trade in non-sensitive goods on each side that could benefit from more favorable tariff treatment in the future,” said Ambassador Greer. 

We will continue to monitor this situation and issue updates as needed.

Please contact your V. Alexander account team, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions, and you can always follow us on our website www.valexander.com for updates on this and other topics.