Section 301 - June 2024 Updates

The Office of the United States Trade Representative (USTR) has proposed increasing the Section 301 duties on specific products. The first set of increases will go into effect August 1, 2024, the others will be phased in over time.  

Duty Increases:

• Certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.
• Semiconductors will increase from 25% to 50% by 2025.
• Electric vehicles under Section 301 will increase from 25% to 100% in 2024.
• Lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026.
• Battery parts will increase from 7.5% to 25% in 2024.
• Solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024.
• Ship-to-shore cranes will increase from 0% to 25% in 2024.
• Natural graphite and permanent magnets will increase from zero to 25% in 2026.
• Certain other critical minerals will increase from zero to 25% in 2024.
• Syringes and needles will increase from 0% to 50% in 2024.
• Personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024.
• Rubber medical and surgical gloves will increase from 7.5% to 25% in 2026

Exclusions:

The Office of the United States Trade Representative announced the extension of a number of existing 301 exclusions. The exclusions were previously scheduled to expire on May 31, 2024, and certain exclusions have now been extended through May 31, 2025. 

To allow for a transition period, the U.S. Trade Representative is extending all of the currently expiring exclusions through June 14, 2024.

If you have any questions about section 301, duties or exclusions please contact Allyn International at sales@allynintl.com

Contributor: Matthew Dreckman

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About Allyn International

Allyn International is dedicated to providing high quality, customer centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance. Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North America, Europe and Asia and Allyn regional headquarters are strategically located in Fort Myers FL USA, Shanghai P.R. CHINA and Prague, CZECH REPUBLIC. For more information, go to www.allynintl.com