OIA Joins Coalition Efforts Urging President Trump to Postpone Tariff Increases
OIA and the Americans for Free Trade Coalition sent a letter to President Trump yesterday urging him to postpone all tariff rate increases, most of which are scheduled for September 1. In the letter, OIA and other trade associations explain that these tariffs come at the worst possible time, right before the busy holiday shipping period. The letter notes that List 4 implementation was split to avoid impacting holiday shopping but that the tariffs on most products that will be harmed go into effect on September 1, not December 15. While OIA and other signatories share the administration’s frustration with China, ordering companies to leave the world’s second largest economy is not a realistic solution.
OIA signed the letter to continue to express our deep concern about the ongoing tariff escalation on imports from China and the subsequent harm to the U.S. economy. The Americans for Free Trade Coalition includes manufacturers, farmers, retailers, technology companies, service providers, importers, exporters and supply chain stakeholders.
As we alerted OIA members last week, President Trump raised tariff rates on Lists 1-3 products from 25 percent to 30 percent on October 1 and increased the tariff on List 4 products from 10 to 15 percent. For List 4, some products are facing tariffs on September 1 and the balance on December 15.
HOW OIA CAN HELP YOUR COMPANY
The List 3 exclusion process remains open through Sept. 30, 2019. Please note that successful exclusions are available for all importers whose products qualify and are retroactive to the imposition of List 3 tariffs in September 2018. List 3 products include backpacks, sports bags, kayaks, camp chairs, camp stoves, leather ski gloves and bikes.
The administration will announce an exclusion process on List 4, most likely following the conclusion of the List 3 process on September 30. OIA will alert members as soon as information on this process is available.
In addition, OIA is planning a range of webinars on sourcing and trade policy for the coming months. These topics will help members navigate the China trade relationship and strategically evaluate other options.