Important: Tariff changes this week
Hello Everyone,
As you are likely aware, Section 122 tariffs are set to expire July 24.
What that means for tariffs:
We anticipate the Section 301 tariff will immediately take its place, starting July 25.
While we do not expect a gap in tariffs, at the same time we have not yet received guidance from CBP regarding the requisite customs clearance codes under Section 301. We are diligently monitoring for that guidance and will pass along all pertinent details as soon as they become available.
Under Section 301, the expected tariff rates are:
10% tariff on goods from Argentina & European Union
12.5% tariff on goods from Australia, Chile & New Zealand
What you can expect from us:
In the absence of guidance from CBP regarding 301 tariff codes, we are unable to pre-clear containers as we typically do. Note that this should not delay the receipt of the containers, but could delay the tax & duties invoices by a couple days.
A reminder from last week’s Ops Memo:
Separately, the recently ratified EU/US trade agreement introduces a possible cap of 15% on certain tariffs. The agreement doesn't mandate an increase — it caps the rate at 15% — so it's possible the applicable tariff stays at 10%.
We'll share more as soon as we have confirmed details on either front.
If you have any questions, please reach out to us at answers@elysiaships.com.
Thank you,
The Elysia & Co Team
