President Donald Trump wrote on social media that he is recommending "a straight 50% tariff on the EU" starting June 1 because talks with the EU "are going nowhere!" He said, as he has before, that the EU "was formed for the primary purpose of taking advantage of the United States on TRADE."
The Bureau of Industry and Security posted the requests it has received for new products to be included as derivatives subject to Section 232 tariffs on steel and aluminum products. The release of the requests starts a two-week comment period for the potential inclusions, with comments on each due June 4.
The Court of International Trade on May 15 held that a product is "imported" for duty drawback purposes when it's admitted into a foreign trade zone and not when entered for domestic consumption. Judge Timothy Reif said the definition of "importation" found in both the dictionary and Supreme Court rulings distinguishes "importation" and "entry." The judge added that when Congress passed the current drawback statute, it specifically decided the five-year period to make a drawback claim runs from the date of importation and not the date of entry. As a result, the court dismissed importer King Maker Marketing's case challenging CBP's rejection of its substitution unused merchandise drawback claims for being untimely.
CBP released a notice outlining refund procedures to implement President Donald Trump’s April 29 executive order on tariff stacking. The notice says that, beginning May 16, importers may request refunds on entries on or after March 4 by way of a post-summary correction for unliquidated entries or a protest for entries that have been liquidated but where the protest period hasn’t expired.
Goods loaded onto feeder vessels before reciprocal tariffs took effect, but transferred to another vessel after, aren’t eligible for an exemption from the tariffs for in-transit goods, said CBP in an update to a FAQ May 15.
The reduction of the reciprocal tariff on China from 125% to 10% will take effect at 12:01 a.m. ET on May 14, said President Donald Trump in an executive order. The decrease will not be retroactive.
Overnight, the U.S. issued a statement that, by May 14, it will suspend 115 percentage points of its 145% International Economic Emergency Powers Act tariffs on China, and keep the lower rate of 30% "for an initial period of 90 days" while trade talks go on.
The White House announced May 11 that it reached a deal with China in talks over the weekend, but provided no details about what that means.
President Donald Trump said on social media early May 9, "80% Tariff on China seems right! Up to Scott B." He was referring to Treasury Secretary Scott Bessent, who will meet with China's vice premier in Switzerland on Saturday and Sunday to talk trade.
The Commerce Department is beginning a Section 232 investigation into possible tariffs on commercial aircraft and jet engines, including parts, it said in a notice released May 9. The agency will consider “the effects on national security of imports of commercial aircraft and jet engines, and parts for commercial aircraft and jet engines,” as well as “whether additional measures, including tariffs or quotas, are necessary to protect national security,” among other things. Comments are due June 3.