- USTR plans to extend Section 301 exclusions through May 31, 2024
- The extension covers products including manufacturing components, hydraulic control valve push pins, and hand sanitizer dispensers
- Impacted taxpayers are encouraged to understand the extension and submit comments via the USTR’s online docket
- The exclusions were originally introduced in 2018 and allow companies to apply for certain products to be excluded from tariffs
- Section 301 includes general exclusions as well as COVID-related exclusions
- If the exclusions expire after May 31, 2024, covered products would be subject to tariffs ranging from 7.5% to 25%
- The USTR has opened a public comment period from January 22 to February 21, 2024, to gather feedback about the extended exclusions.
Source: aprio.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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