GSP, MTB and Section 301 Tariffs Set to Expire

Several key programs and provisions are set to expire at the end of 2020. Generalized System of Preferences renewal, China Section 301 tariff exclusion extensions, and the Miscellaneous Tariff Bill were all absent from the recent 2021 Consolidated Appropriations Act.

Effective January 1, importers will be required to pay duties on merchandise that had been eligible for duty-free treatment from nearly 120 designated beneficiary countries and territories under GSP.

Additionally, starting January 1, hundreds of the Section 301 China tariff exclusions will expire, requiring importers to pay the 25% or 7.5% trade remedy tariff, as appropriate, to covered merchandise of China origin.

Lastly, all temporary duty suspensions found under Harmonized Tariff Schedule heading 9902 are expected to expire on January 1, requiring importers to pay the appropriate normal trade relations (column 1) duty rate.

We will keep you updated as trade groups continue to advocate for renewals and extensions.