Beginning Monday, Sept. 24, the Office of the United States Trade Representative (USTR) announced List Three, Section 301 Tariffs of 10% will be implemented on approximately $200 billion worth of Chinese exports.
As with the most recent implementation on the Second Tariff List of 25%, GCP remains focused on protecting our combined business through these times. Our plans include but are not limited to the following:
- Pre-shipping/stockpiling material
- Working with our key production partners to determine what amounts can be absorbed upstream to minimize the short-term and long-term impact on your prices from GCP
- Exploring alternative locations for production and other strategies to support long-term competitiveness
- Applying for exceptions and duty drawbacks
We are continuing to explore both immediate and long-term solutions by working with our Partners in China, Approved Suppliers and Customers. These conversations will continue to unfold over the upcoming weeks and we encourage you to bring forward concerns that you may have.
Our goal at GCP has always been to Help People and Organizations Grow and the recent politics of duties has not changed our commitment to our customers.
We are always available to answer any questions you might have and appreciate your continued partnership and understanding through these unique times.
The GCP Team