A recent CBP ruling saying gold bars are subject to reciprocal tariffs has sent shock waves through the gold futures market this week, according to news reports.
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Section 232 tariffs on steel and aluminum derivatives, currently set at 50%, will cover 407 additional Harmonized Tariff Schedule subheadings beginning at 12:01 a.m. on Aug. 18, the Commerce Department said in a notice released late on Aug. 15. The notice includes no exception for goods in transit as of the effective date.
Some companies and associations in the solar industry endorsed additional tariffs on Chinese polysilicon, but others expressed concern that allied countries will be hit with overlapping Section 232 tariffs on both imports of polysilicon and solar cells, in public comments to the Bureau of Industry and Security.
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Arun Venkataraman, the former assistant secretary of commerce for global markets, has joined Covington & Burling as a partner in the international trade practice, the firm announced. While at Commerce 2022-25, Venkataraman led efforts to "expand commercial opportunities for U.S. firms overseas and foreign firms in the United States," Covington said. In addition to his role as assistant secretary, Venkataraman served as director general of the U.S. and Foreign Commercial Service at the International Trade Administration. Prior to joining the Commerce Department, he worked at Visa as the senior director for global government engagement and at the Office of the U.S. Trade Representative as director for India.
Robert Shervette, a former senior customs attorney at ArentFox Schiff, has joined BakerHostetler as counsel, he announced on LinkedIn. Shervette joined ArentFox in 2018 and covered various customs issues. Previously, he served as an attorney at CBP covering customs and trade compliance and intellectual property rights trade compliance.
Elio Gonzalez, a former Commerce Department attorney, has joined Alston & Bird as counsel in the Washington D.C. office, Gonzalez announced on LinkedIn. Gonzalez worked at Commerce for the past six years, joining as an attorney in 2019 and rising to assistant chief counsel in September 2024 before departing from the agency. Prior to joining Commerce, Gonzalez served as an attorney at CBP in Long Beach, California, for nearly five years.
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