[Rumor-busting] The United States has suspended all customs clearances? Let you understand the truth

Yesterday, a piece of news from a freight forwarder shocked the cross-border circle - the US Customs will suspend the clearance of goods arriving at Hong Kong after May 10, and many students in the group were discussing this issue.

Many freight forwarders and logistics service providers are spreading this news like crazy. What exactly will happen on May 10? Will customs clearance really be suspended? Today, let's interpret this news.

First of all, customs clearance will definitely not be suspended unless there is a major force majeure mistake like the UK's no-deal Brexit.

Even the UK has been dragging its feet on this matter, unwilling to leave the EU without a deal, and the huge losses caused by the stagnation of border trade are also a reason.

As the largest trading partner of the United States, the number of Chinese shipments passing through U.S. customs every moment is astronomical.

Once customs clearance is suspended, stores will not be able to get restocked, factories will not be able to get raw materials, and companies will not be able to get semi-finished products. The temporary suspension of customs clearance of goods will cause unimaginable damage to the US economy.

In addition, the viral article said that the suspension of customs clearance was only notified to some companies? It can be basically confirmed to be fake news.

PS. As of the time of posting, these articles have been deleted by the Cyberspace Administration of China for spreading rumors.

However, the tariff upgrade in the news is true, and we have reported it before (click here for details). PS. In order to publish this article quickly and prevent it from being deleted, I used a lot of homophonic words, so please forgive me when you read it.

To summarize the content of the previous article, our trouble-making comrade Trump suddenly announced without any warning at the beginning of this week that he would escalate trade frictions with China.

Not only will the United States resume imposing punitive tariffs on shipments from China on May 10 , but it will also increase the tariff rate on a list of $200 billion worth of products from 10% to 25% .

This has been officially confirmed. According to the latest documents from the Office of the United States Trade Representative (USTR), this order has been issued to relevant agencies. I have marked the key points in red for your convenience.

There is still a chance of a turnaround in this matter, that is, our delegation will set off to Washington today for the eleventh round of trade consultations between China and the United States.

Although Trump's move was to use tough tactics to force us to make concessions, our delegation also expressed our attitude through our actions and speeches.

First, he stated that China's position and attitude have always been very clear and firm. Then, he took the offensive as a defensive measure and directly postponed the consultation schedule originally scheduled for the 8th to the 9th .

This is clearly a conversation with Trump.

"Let's talk for one day, if that doesn't work, we'll fight"

It is very difficult to predict how things will develop in the end. Trump is an unstable bomb and is really tricky. We can only hope that the two sides can reach a consensus in a new round of consultations. After all, there are no winners in a trade war.

To summarize briefly,

Suspend customs clearance , fake, customs clearance is slow at best

Tariff increase is possible, it depends on the work of diplomats

If punitive tariffs are implemented, shipments with an ETA (arrival date) of May 10 and later may be affected by the tariff increase.

How can you check whether your product is on the affected list? Here is how to check the tariff rate of your product on the official website of USITC (United States International Trade Commission).

First, go to the USITC official website and enter the first six digits of your product’s HS Code in the input box below.

Find the detailed HTS Code corresponding to your product on the left side of the pop-up result column. After clicking, the right column will automatically jump to the corresponding tax rate.

The General column is the general tax rate for this type of product. If there is nothing special, this tax rate will be applied.

The Special column is the tax rate set by the United States specifically for a certain country, and the punitive tariffs against us will appear here.

The tariff on the $200 billion of Chinese goods affected on May 10th increased from 10% to 25%, so if you find out here that there is a 10% special tariff targeting China, then your products will be affected by this increase.

Of course, there is a more convenient method. I have found an official US list of 200 billion goods for you to check directly to see if your product is on the list.

Scan the QR code below to get it from me~

PS. If you want to join the seller discussion group, you can also private message me to let me add you to the group

Source: Cross-border Business School

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