While U.S. tariff rates are generally low, the tariffs collected on imports from the “new” TPP countries (i.e., Brunei, Japan, Malaysia, New Zealand, and Vietnam) are often much higher. In fact, the United States collected nearly $6 billion in import taxes on products from TPP countries in 2015.
Had the TPP been in effect last year, about $3 billion of those tariffs could have been waived, saving the American companies forced to pay those taxes significant amounts of money.
To find out how TPP could affect their products, companies can download the schedule of U.S. tariff reduction commitments here.
That schedule uses “staging categories” to explain the tariff reductions. For example, a staging category of “EIF” means that tariffs are eliminated upon “entry into force,” or on day one, while “B5” means that tariffs are eliminated in equal stages over five years. Companies can download the explanation of all staging categories here.
The full text, including all chapters and annexes on things like rules of origin, is available from USTR here.
If you need assistance determining potential TPP import benefits for your company, contact us here.
If your company would benefit from TPP, please consider adding it to the free TPP Importers list by filling out the form below. The goal? To show that companies in every state and congressional district support TPP passage in 2016. Supporter list companies will receive periodic updates on TPP news and opportunities to advocate for swift TPP passage.
Note: The list, which will go live in the coming weeks, will show only the company name and location. No other information will be published without express consent.
[contact-form subject=”New TPP Importers Company”][contact-field label=”Contact name” type=”name” required=”1″ /][contact-field label=”Contact title” type=”text” required=”1″ /][contact-field label=”Email” type=”email” required=”1″ /][contact-field label=”Contact phone” type=”text” required=”1″ /][contact-field label=”Company name” type=”text” required=”1″ /][contact-field label=”Company headquarters street address” type=”text” required=”1″ /][contact-field label=”Company headquarters city, state, ZIP” type=”text” required=”1″ /][contact-field label=”Number of US employees” type=”text” required=”1″ /][contact-field label=”TPP supplier countries (or check boxes below)” type=”text” /][contact-field label=”Brunei” type=”checkbox” /][contact-field label=”Japan” type=”checkbox” /][contact-field label=”Malaysia” type=”checkbox” /][contact-field label=”New Zealand” type=”checkbox” /][contact-field label=”Vietnam” type=”checkbox” /][contact-field label=”Australia, Canada, Chile, Mexico, Peru, and/or Singapore” type=”checkbox” /][contact-field label=”Products imported from TPP countries” type=”text” /][contact-field label=”Estimated tariffs paid on imports from TPP countries in 2015 (will be kept confidential)” type=”text” /][contact-field label=”Are your TPP imports ever incorporated into products exported from the United States?” type=”select” options=”Not yet answered,Yes,No” required=”1″ /][contact-field label=”If yes, to which countries?” type=”text” /][contact-field label=”Can we use the information publicly (e.g., in blog posts)?” type=”select” options=”Not yet answered,Yes – use it however is most useful,Maybe – I would like to approve the content first,No – please do not publish any company-specific details” required=”1″ /][/contact-form]