SECTION 301 TARIFFS

 SECTION 301 TARIFFS   

The President announced the third round of tariffs in the Section 301 action, imposing 10% tariffs on Chinese imports valued at $200B, effective September 24, 2018. Tariffs were scheduled to increase to 25% on January 1, 2019, but the President suspended this deadline for 90-days to allow for negotiations between the US and China.
May 29, 2018 - The President issues a statement, invoking his authority under Section 301 of the U.S. Trade Act of 1974 to combat China's burdensome trade practices on U.S. interests. He instructed the Office of the U.S. Trade Representative (USTR) to release by June 15 a list of Chinese imports valued at $50B that would be subject to an additional 25% tariff.
July 6, 2018 – Effective date of 25% tariffs on Chinese imports valued at $34B. (List #1)
July 10, 2018 – USTR releases notice of intent and initiation of the public comment period to impose additional 25% tariffs on a third list of Chinese imports valued at $200B. (List #3)
August 23, 2018 – Effective date of 25% tariffs on Chinese imports valued at $16B. (List #2)
September 17, 2018 – President announces decision to impose 10% tariffs on Chinese imports valued at $200B. (List #3). Tariffs to increase to 25% on January 1, 2019. President also announces additional tariffs on $267B of Chinese imports if China retaliates against the U.S.
September 18, 2018 – China initiates retaliation against the U.S., moving to impose tariffs on $60B of U.S. goods imported into China, increasing likelihood of fourth round of tariffs imposed by the U.S. September 24, 2018 – Effective date of 10% tariffs on Chinese imports valued at $200B. Scheduled to increase to 25% on January 1, 2019. (List #3).
December 19, 2018 - President announces a 90-day suspension of the January 1, 2019 deadline. List #3 tariffs to increase to 25% on March 2, 2019 if negotiations do not result in China meeting US demands.
May 10, 2019 – President announces decision to increase tariffs to 25% on List #3. Increase to take effect May 10, 2019.

Tariffs are taxes that cannot be negotiated, therefore Imperial Pipe and Steel Supply must implement timely price increases to cover additional costs in totality. 
Unless otherwise noted on quotations, all prices are subject to change at any time.
We will continue to competitively quote these products based on our costs. If the additional tariffs are imposed, we will have no choice but to pass these costs on to the market.
We appreciate your loyalty and understanding as we manage this changing business environment.

Thank you for your continued support and partnership.
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