Update: Two Week Delay for Tariff Increase
On September 3, 2019, a Federal Register notice was published, stating that due to the ongoing challenges being addressed between the governments of the United States and China, Tranche 1, 2 and 3 would be increasing from 25 percent to 30 percent, effective October 1, 2019. At this time, it was announced that there would be a request for Public Comments through September 20, 2019.
On September 11, 2019, it was announced that the U.S. administration has elected to delay increasing tariffs on $250 billion worth of Chinese goods from October 1, 2019 to October 15, 2019 as a "gesture of good will." The postponement comes as a request of Liu He, Vice Premier of China. Furthermore, the People's Republic of China will be celebrating its 70th Anniversary on October 1, 2019. The delay incites hope that when U.S. and China negotiators meet in Washington, the two countries will strike a trade deal.
On Wednesday, China also announced its first round of tariff exemptions for 16 various U.S. goods, including items such as animal feed ingredients whey and fish meal, anti-cancer drugs and lubricants, to be effective from September 17, 2019 through September 16, 2020.
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