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Melrose’s tariff relief may be short lived if EU-U.S. conflict gets into gear

China 2671 Cons. Discr. - Autos 981 Tariffs 1675 U.S. 4741

The U.S. government has granted a further 2,174 exemptions from list 3, section 301 tariffs on imports from China covering 173 products and 97 firms. That represented an approval rate of just 13.7% while the rate for all list 3 applications so far sits at just 4.4%. The tariffs are set to remain in place despite the recent phase 1 trade deal, so the exemptions will remain important. The latest round of approvals include clutch components imported by Melrose’s GKN Driveline, American Axle, Caterpillar and Polaris among others. China represented just 6.5% of total U.S. imports of that prod...

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