SECTION 301 TARIFFS ON CHINESE IMPORTS

What Is Section 301 Tariffs On Chinese Imports?

Section 301 authorizes the U.S. to investigate and act on trade agreement violations or discriminatory trade practices. On August 18, 2018, the U.S. launched an investigation into China’s technology and intellectual properties policies. Most imports into the U.S. from China are now subject to some level of tariff. At this time, the only way to avoid these tariffs is to receive a specific product exclusion.

How Does It Impact Magna?

Magna continues to incur significant costs due to Section 301 tariffs. However, Magna has applied for product exclusions where appropriate. Most applications are denied.

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