September 21, 2018
For companies with products subject to the Section 301 tariffs imposed on imports from China, there may be a way to reduce or eliminate those duties.
Many of the products now subject to the additional tariffs previously were duty-free or subject to relatively low duties. Given those circumstances, few importers paid attention to tariff classification and valuation principles. The assessment of additional duties should change that.
Still, there may be a way to deflect some of the impact. Consider the following:
The impact of additional tariffs for U.S. importers is significant. The supply chains will need to be evaluated to determine if any opportunities exist to reduce the impact. McGuireWoods welcomes the opportunity to explore options and to review the legal landscape with any entity impacted by the additional tariffs.