As a follow up to our email sent last month regarding the proposed tariffs on certain goods being imported out of China, the U.S. Trade Representative formally announced on September 17th that a new 10% tariff on all of the items previously noted (including items we provide – boxes, paper and plastic bags, and “cut & sew” products) will go into place on September 24, 2018, and the tariff will increase to 25% on January 1, 2019 for these same items. The tariffs will be assessed as goods arrive at the U.S. ports on or after September 24th.
To learn more about the tariffs, you can visit the links below:
We will continue to monitor the tariffs as they relate to China and other global supply chain locations. Please be sure to check your email or check back on this page for continued updates.
Please reach out to your sale representative with any questions or to discuss your packaging options. Thank you as always for your business, and rest assured that our team is doing everything we can to ensure we are able to continue to offer you the best price and quality packaging in the industry.
The WSJ reported over the weekend that the recent round of tariffs on $200B of Chinese Goods is expected to be set at about 10%, a lower number than the originally expected 25%. You can read more here:
The U.S. and China are “discussing details for a new round of negotiations” on trade. This could impact the proposed tariffs on $200B of goods. You can read more via the link below and we will continue to keep you updated.
On Monday, the U.S. Trade Representative concluded six days of hearings on the proposed tariffs on $200B worth of Chinese goods. They could be imposed as soon as next month.
News out of Washington this morning is that the current administration could increase the proposed tariffs from 10% to 25%. https://www.cnn.com/2018/07/31/politics/trump-tariffs-china/index.html
We continue to monitor the situation closely and will update you as this progresses.
Dear Valued Customers,
As most of you are probably aware, the U.S. Government has proposed new tariffs on goods being imported out of China. Most of the product categories we source from factories in China are facing a proposed 10% tariff (although the exact % is subject to change). The hearing to approve this proposal is currently scheduled for August 20. Should the proposed tariff be approved, the implementation date would be within 30 days, indicating an effective date sometime in September. To clarify, these tariffs are assessed as goods arrive at the US ports. If approved, any applicable shipments from China arriving at any of our US ports on or after the implementation date would be assessed the tariff.
For those of you with existing order(s) that might be affected by this tariff, we are doing all we can to expedite these order(s), including having it arrive at one of our West Coast port options to avoid the orders being subject to the tariff. Your sales representative will be contacting you to discuss all possible options soon.
To learn more about the proposed tariffs, you can visit the links below:
As the hearings and proceedings on the proposed tariffs evolve, we will update you via email with any major announcements, but you can also check for updates on our website www.pkgspec.com.
Please reach out to your sale representative for any questions or additional information. Thank you as always for your business, and rest assured we will do all we can to minimize the effects of this new tariff.