The general rule for calculating a Customs bond amount is 10% of the amount of duties, taxes and fees paid by the importer of record in the previous twelve months. Because of the significant additional duties imposed on products subject to tariff sanctions, bonds can become saturated pretty quickly these days. Saturation occurs when the total duties,… Read more »
Monthly Archives: September 2018
CHINA TARIFF SANCTIONS – LIST 3
The United States Representative has published a list of 5,745 classifications worth approximately $200 billion of Chinese import products that will be subject to a 10% additional duty effective September 24, 2018. The duty rate will increase to 25% on the affected classifications effective January 1, 2019. List 3 can be accessed here: https://ustr.gov/sites/default/files/enforcement/301Investigations/Tariff%20List-09.17.18.pdf Lists… Read more »