WASHINGTON (BRAIN) — The United States Trade Representative announced Tuesday that existing Section 301 tariff exclusions will be extended until May 31. The exclusions for some China-made bicycle products were scheduled to end Sunday.
The tariffs of 25% were to be applied in addition to pre-existing tariffs on China-made bikes. The tariffs were initiated during the Trump administration and have been extended twice.
PeopleForBikes estimates the worth of products under these extensions to be in excess of $120 million in annual import value. This potentially could result in savings of $30 million for the bike industry in Section 301 duty payments.
The bike products cover various categories, including all children's bikes and certain e-bikes.
The USTR announced it will open a public comment portal on Jan. 22 to decide whether to extend any of these product exclusions beyond May 31. The comment period will close Feb. 21.
