As companies seek to accommodate changes in U.S. tariffs, they should seek to understand the terms of their intercompany agreements and transfer pricing policies to avoid potential violations, according to an energy and infrastructure lawyer with Baker McKenzie.
An importer can't use the transaction value of the first sale for appraisement purposes, CBP recently determined in a May 6 ruling, finding that the middleman paid the manufacturer late yet didn't pay any interest as required by the contract, indicating that the transaction wasn't at arm's length.
The National Customs Brokers & Forwarders Association of America and dozens of state and national-level trade groups representing shippers have signed a letter warning the heads of multiple federal agencies of potential supply chain disruptions that could result should tariff changes proceed as planned.
As the Commercial Customs Operations Advisory Committee voted at its June 18 quarterly meeting to pass along to CBP various recommendations offered by the subcommittees, CBP received public comments seeking clarification on whether the agency still will be processing paper payments after Sept. 30.
Members of the Commercial Customs Operations Advisory Committee voted unanimously to recommend that CBP beef up its communications with the trade by providing more transparency over when CBP updates the FAQs that the agency has been using to inform the trade on how it's implementing new tariffs.
Changes in how the Commercial Customs Operations Advisory Committee is organizing its working groups, as well as further discussion about the potential incorporation of "real-time modern processes," are coming at a time when CBP appears to be putting greater emphasis on trade enforcement as part of a broader effort to bolster national security.
Market demand for ocean carriers from Asia to the U.S. West Coast has picked up as importers rush to beat any additional increases in tariff rates -- including potentially higher U.S. duties on goods from China, according to multiple sources.
A Polish official expressed optimism that the U.S. and European countries could hash out a trade deal soon, even as the 90-day timeline for the pause of reciprocal tariffs ends in less than a month.
CBP updated its recent guidance on Section 232 tariffs to remove tariff schedule numbers that had apparently been erroneously included as subject to steel and aluminum tariffs.
Given an increase in Section 232 tariffs on steel and aluminum (see 2506030071), it may be less costly for importers to no longer take advantage of an exemption from tariffs on autos and auto parts for USMCA goods, according to a tariff expert at supply chain logistics platform Flexport.