WASHINGTON (BRAIN) — The U.S. Trade Representative is delaying by 15 days the imposition of increased tariffs on some Chinese goods.
Last month the USTR said the new tariff on a list of Chinese goods worth about $200 billion annually, which included about $1 billion in bike-related goods, would increase from 10% to 25% on goods that arrive in the U.S. after June 1. The tariff amounts are in addition to current tariffs, generally about 5-11% on bike goods.
However the USTR is now saying that the increase will begin applying only on goods that arrive after June 15, if they left China before May 10 — essentially the USTR is granting an extra two weeks buffer for the "slow boat" goods that left China before the increase took effect May 10.
"This limited extension will further account for customs enforcement factors and the transit time between China and the United States by sea," the USTR said.
