Beginning Thursday, August 23 the USTR Section 301, List 2 Tariffs of 25% will come into effect on GCP’s National Silicone Solid & Sponge Sheet, UHMWPE / HDPE Sheet and Surloc PVC Couplings.
GCP is focused on protecting our combined business through the Section 301 Tariff Implementations. This includes preventing shortages, managing cost increases and monitoring for supply chain disruptions.
We are exploring both immediate and long-term solutions by working with our Partners in China, Approved Suppliers and Customers. These conversations will continue to unfold as trade news develops and we encourage you to bring forward any concerns that you may have.
In other trade news, this week finds the USTR Section 301, List 3 Public Hearing commence from August, 20 – 27; with written comment submission extended to Sept. 6th, 2018. This hearing is set to cover a potential 10%+ duty on approximately 6000 tariff lines. The timeline on implementation is yet to be solidified, but expect news approaching the end of the hearing period.
Additionally, trade discussions between American and Chinese Trade Ministers are set to resume August 22 and may provide more insight into the actuality of USTR Section 301, List 3 coming into effect.
Our goal at GCP has always been to help people and organizations grow and we believe that these values will help us navigate through these unclear times together.
We are always available to answer any questions you might have and appreciate your continued partnership through these unique times.
The GCP Team