Trump Announces Adjustments To Washer Tariff Quotas - Proclamation
Mohammad Ali (@ChaudhryMAli88) Published January 24, 2020 | 05:00 AM
WASHINGTON (UrduPoint News / Sputnik - 24th January, 2020) US President Donald Trump announced that he intends to redistribute tariff quotas on foreign residential washers throughout the year to eliminate circumvention.
"I have further determined that additional action is necessary to eliminate circumvention of the TRQ [tariff-rate quota] by ensuring that within-quota quantities of imports of washers are spread throughout the year," Trump said in a presidential proclamation on Thursday.
The President intends to curb tariff subversion "by allocating the within-quota quantities for the third quota year on a quarterly basis.
"
In the proclamation, the president cited evidence that washing machine imports spiked during the quota window leading to fluctuations in the residential washer market and undermining the desired effects of the tariff.
The new measures will take effect on February 7 at midnight local time. The initial tariff on residential washing machines and solar panels was announced in January 2018.
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