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Does the Additional Tariff Apply to Magnetic Assemblies and Lifting Magnets?

Posted on Nov 8, 2018

USA-China Trade War 2018

As part of the U.S. comeback to China’s unfair trade practices associated with the forced transfer of American technology and intellectual property, U.S. Trade Representative (USTR) had released a list of products imported from China which are currently subject to additional 25% tariff. Unfortunately, magnetic assemblies and lifting magnets are part of the first list release in June as part of 50 billion worth of Chinese imports. For more details on USTR announcement in June 2018 https://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/june/ustr-issues-tariffs-chinese-products

On the bright side, permanent industrial magnets, such as Neodymium magnets, Samarium Cobalt magnets and Ceramic magnets, are excluded from the second set of products worth of 200 billion Chinese imports. This is good news for us and many of our clients as China currently is the world’s key supplier of rare earth elements and products. The second set of products is worth $200 billion, is subject to 10% tariff started on September 24, 2018 and will raise to 25% on January 1, 2019. For more details on USTR announcement in September 2018 https://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/september/ustr-finalizes-tariffs-200

Armstrong Magnetics wants to thank all clients and partners for your continued support during this trade adjustment. It is always in our best intention to work closely with you to minimize the cost increase and/or any unwanted effects on your product designs and supply chain. We will keep you informed of any updates. Meanwhile, if you have any question, please do not hesitate to contact us at sales@armsmag.com.