The International Trade Commission posted Revision 16 to the 2025 Harmonized Tariff Schedule. The semiannual update to the HTS adds new 10-digit tariff numbers for a variety of products, including coffee, refrigerators, wind turbine parts and integrated circuits, among other goods. All changes take effect July 1, unless otherwise specified.
President Donald Trump posted on social media that Vietnamese goods would face a 20% tariff, rather than an originally proposed 46% reciprocal tariff, in exchange for zero tariffs on U.S. exports.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
The Senate passed the Trump tax bill with a tie-breaking vote from the vice president on July 1. The House of Representatives will vote on whether it will accept the Senate's changes to its bill.
CBP is embarking on a radical restructuring of the Commercial Customs Operations Advisory Committee, directing all COAC subcommittees and workgroups to complete their work by the advisory body’s September meeting as the agency brings “all existing COAC subcommittees and related workgroups to a close,” according to an email obtained by International Trade Today.
Canada backed down on implementing its digital services tax, which was to start collection on June 30, after President Donald Trump said on June 27 he was ending trade negotiations with Canada over the issue.
Treasury Secretary Scott Bessent, on Bloomberg Television on June 30, didn't predict how many deals would be announced with the 18 largest trading partners of the U.S. before July 9. However, he said that countries "are coming in with offers" that long-time staff negotiators "can't believe," because they're so good.
The latest version of the tax bill introduced by the Senate over the weekend ends commercial de minimis on July 1, 2027, as the House version does. The Congressional Budget Office estimates that would increase revenues by $39 billion between 2027 and 2034.
President Donald Trump and Treasury Secretary Scott Bessent, in different appearances on the same day, said that negotiations do not need to conclude by July 8 to avoid higher reciprocal tariff rates at 12:01 July 9.
Even though CBP has given some guidance on how to interpret the "in transit" reciprocal tariff exclusions, the trade is still grappling with how to proceed with the changes, according to a June 27 letter to DHS Secretary Kristi Noem and incoming CBP Commissioner Rodney Scott.