US Tariff Exemption for Injection Mold Exports from China
The United States Trade Representative (USTR) has announced that it will restore 352 additional tariff exemptions for US imports from China, to support normal trade of related products between the two nations. The list of reinstated product exclusions will apply as of October 12, 2021, until December 31, 2022 and can be found here.
Immetech’s CEO Jason Xu welcomes this news, which will help reduce the trade costs of exported injection molds from China to United States of America. “For Immetech, this means that our US customers won’t have to worry about import tariffs and can promote our business. This great news will absolutely help the export of many Chinese products to the USA with significantly lower tax charges.” states Jason. “For example for injection mold exports it used to cost 25+3.1% Tax, but now it will be only 3.1% Tax.”, he adds.
Evidence of this tax reduction can be seen below in this table from China’s customs system, with the General Rate of Duty listed as only 3.1%.
Immetech is excited about this change for this important market that it supplies its one-stop injection molding production services to, and continues to invite companies to contact them about any production needs they have by sending an email to [email protected].