Potential Tariff Increase

According to this week’s announcement by the United States Trade Representative’s Office (USTR), the U.S. Government is considering an increase in previously planned tariffs from 10% to 25%. As we noted in a recent Industry Update, this round of tariffs would apply to over 6,000 products valued at roughly $200 Billion, and includes furniture, consumer products and food items. You can view the full list here.

The USTR’s hearing on the possible tariff increase will still be held between August 20 and 23 in Washington D.C., and requests to appear at the hearing are due by August 13, 2018. The deadline for post-hearing rebuttal comments has been changed from August 30 to September 5, 2018. Businesses who believe that they may be affected by these tariffs are encouraged to act as quickly as possible to assess any potential impact.

AGL will continue to monitor all related events and advise you of any changes that may impact the efficiency and planning of your supply chain.