China 301 Tariffs Update: Tranche 3 of Tariffs to Remain at 10%
On Saturday, President Donald Trump and Chinese President Xi Jinping reached a deal to keep Tranche 3 of the China 301 tariffs at 10% after January 1st, 2019. This group of tariff numbers were set to increase from 10% to 25% for the New Year. The first and the second tranche of tariff numbers will remain at 25% duty. The U.S. and China will now engage in negotiations surrounding forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture. If these negotiations are not successful after 90 days, tranche 3 will increase to 25% duty.