A Look at Recent US Tariff Developments Ahead of the Election

Key Takeaways

• The final determination on new Section 301 tariffs largely aligns with proposed rules, apart from hikes on some medical supplies, and leaves domestic manufacturing equipment inputs ineligible for exclusions.
• A proposed de minimis rule would prohibit duty-free treatment for products covered by sections 201, 301, or 232 tariffs and is expected to shake up congressional debate on the issue.
• Discussions on China’s PNTR status are evolving toward a more intricate approach, though some continue to call for a complete revocation.