Transcript: What Will Happen To Existing Exceptions On Medical Products? What Should I Do Next?
Nicole Bivens Collinson: The exceptions to the tariffs I had mentioned […] I'm sure many of you are aware of it. There's certain [items] like wipes or liquid hand sanitizer that can be accepted, there’s certain PPE that had been accepted. Those are under the Section 301 tariffs, and they are in place only until May 31 [2025]. I do not expect there to be any extension of these exclusions.
So if you are currently benefiting from an exception to this 25% tariff or 7.5% percent tariff – because it's either 7.5% or 25% under the Section 301 tariffs – I would be putting together scenarios in which I did not have that exception. And I would start gaming out what it's going to look like if I do have to start paying those tariffs starting on June 1 [2025], because I am not confident at all that there's going to be an extension of the exclusions.
So those of you who are impacted, if you're dealing with your C-Suite and your investors or whomever, I would definitely be putting forward some scenarios that play that out in a world where there are no exclusions.