On March 22, 2018, President Trump issued a memorandum authorizing the United States Trade Representative (USTR) to take action against China in response to China’s alleged unfair trade practices identified during the USTR’s investigation pursuant to section 301 of the Trade Act of 1974. On April 3, the USTR proposed a list of over 1,300 products across numerous industries that may potentially be subject to an additional tariff of 25 percent following a public comment period. Currently, it is unclear when the tariffs will be implemented.
During this Webcast, we discussed the Section 301 tariffs and how companies can develop a mitigation strategy. KPMG professionals discussed the next steps companies should consider today and how to prepare for these broad tariffs. Specifically, this Webcast covered the following: