New, retroactive Section 301 tariff exclusions mark a big win for the bike industry.
On March 23, 2022, the United States Trade Representative (USTR) announced new, retroactive Section 301 tariff exclusions, including nearly every eligible bike product exclusion we pursued as an industry.
The exclusions will be in effect for products imported between Oct. 12, 2021 and Dec. 31, 2022. We estimate these exclusions cover products worth more than $600 million in annual import value. This action could save the bike industry at least $160 million in duty payments, likely more.
Bicycle products covered by this exclusion reinstatement include the following items. Applicable Harmonized Tariff Schedule (HTS) subheadings are provided for clarity.
We encourage you to check with your trade counsel and customs broker to verify the eligibility of your products
All but one eligible product for the bicycle industry were reinstated: saddles, unfortunately, were not included in this round. This announcement is the result of a concerted effort by PeopleForBikes and the bike industry dating back to the beginning of Section 301 tariffs.
PeopleForBikes called for sweeping Section 301 relief in our 2021 Trade Agenda and maintained constant pressure on Capitol Hill, conveying the importance of this issue to our industry. Alongside many bike companies, we maximized opportunities through USTR’s various administrative processes. This result would not be possible without years of united work and engagement at every step of the exclusion process.
PeopleForBikes will continue to fight for the extension of these exclusions and full tariff relief for the bike industry. Stay updated on our trade and tariff page and on Twitter @pfbpolicy for the latest breaking policy news.