Both the USTR and CBP have issued entry guidance for items exported prior to May 10, but entered after May 10 to ensure only 10% duties apply. The applicable notices can be found here and here.
In order to apply the 10% Section 301 duty, you must use a newly created HTS subheading, 9903.88.09, and must enter such shipments to CBP prior to June 1. Failure to enter timely will result in a 25% tariff assessment. The new tariff provision and entry date window were necessary for CBP to electronically accommodate the tariff increases enacted today.
We also caution importers to pay careful attention to the reported export dates on their imports. For purposes of preparing an entry summary, an ocean cargo export date is the date the carrier left the last port in the exporting country. This is not always the same as the bill of lading date or other dates listed in commercial documentation. Importers should consult carrier schedules to ensure the date associated with the last port movement in the exporting country is used. CBP's instructions for reporting the export date (Block 15) can be found here.
Should you have any questions concerning these developments, please contact one of the trade professionals listed here.