(PRESS RELEASE) We recognize the fluidity of the situation regarding tariffs is challenging for our members. Please know that serving you during this season of uncertainty is a top priority for The Vision Council.
What We’re Hearing About Tariffs…
Through a post on social media, President Trump has renewed his threats to impose a 25% tariff on products that originate in Mexico and Canada beginning on March 4, 2025. This threat was originally made in early February, but implementation was delayed by 30 days because Mexico and Canada agreed to take preventative measures to mitigate drug trafficking and illegal immigration. That 30-day period, however, will expire on March 4th.
President Trump is also proposing additional tariff action against China. In his post, he stated that on March 4 an additional 10% tariff will be added to goods of Chinese origin. This will be on top of the 10% China tariff implemented on February 4, 2025, and it will also be on top of any additional tariff currently being assessed on Chinese origin merchandise pursuant to the “China 301” duties assessed during the first Trump presidency and any regular tariff being assessed on the specific product (which varies depending on the product being imported).
Tariffs Update Webinar
As March 4 is quickly approaching and as our members have reached out to us with many questions regarding this issue, The Vision Council is hosting a webinar onThursday, March 6 at 2 p.m. ET to discuss the latest developments on tariffs. While it is unclear if these regulations will actually take effect on March 4, we will provide an update on the current situation and discuss the implications for our industry.
Click here to register now.
How We Can Help
To be good stewards of your time and attention, we will not be sending future email blasts with speculation on potential executive action. When there are confirmed developments, we will keep you informed. At any time, you can access the latest information (including possible changes) on tariffs here.
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Our expert Regulatory Affairs Counsel, Rick Van Arnam, is working tirelessly to provide updates and guidance for you. We are here to help you however we can. Rick is available to you at rvanarnam@barnesrichardson.com.
