US Threatens to Broadly Increase Import Duties on Products From Fellow WTO Members
Updated: Feb 17, 2020
In an article in yesterday’s Bloomberg’s online, a threat of action by the Trump Administration to unilaterally raise duty rates was
The article can be found at the following link - https://www.bloomberg.com/news/articles/2020-02-12/u-s-weighs-higher-tariff-ceilings-in-bid-for-more-sway-over-wto?cmpid=BBD021320_TRADE&utm_medium=email&utm_source=newsletter&utm_term=200213&utm_campaign=trade
A move such as this by the US could trigger a broad trade war and could see import duties rise significantly. If we’ve learned anything in the past several years is to “expect the unexpected” so importers would be wise to stay tuned to this topic and to reach out now to their trade associations and Congress to voice their concerns with this type of action.
We will be watching this over the coming months and will share information as it becomes available.
Please note, it is critical that you ensure all your import products are properly classified under the HTS. We can help! Email us at firstname.lastname@example.org and we can set up a free phone consultation to discuss this or any other trade issues with your company.