If incoming President Donald Trump imposes 25% tariffs on all Mexican and Canadian imports, it would be deeply disruptive to business in Texas, Arizona, Michigan and southeastern states with major auto manufacturing.
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CBP has determined that Kingtom Aluminio's aluminum extrusions were produced or manufactured using forced labor, the agency said in a notice. The determination applies to any merchandise imported on or after Dec. 4, as well as any merchandise that has been imported into the U.S. but has not been released from CBP custody.
The Steel Manufacturers Association is asking President-elect Donald Trump to curtail current Section 232 quota restrictions and to end Section 232 exemptions for some Mexican products, to expand Section 232 to more downstream products, and greatly narrow exclusions to the tariffs.
President-elect Donald Trump tweeted a threat on Nov. 30 that he had earlier made on the campaign trail -- that he will impose 100% tariffs on exports from countries who try to create a workaround to trading in dollars, the world's reserve currency.
If President Trump were to impose 25% tariffs on all Mexican and Canadian imports, because he believes those countries are not doing enough to stop migration and drug trafficking, no industry would be hurt more than the auto industry.
CBP upheld its decision that China as the country of origin for an unnamed company's stainless steel sinks, according to a recent ruling.
The former chief of staff to then-U.S. Trade Representative Robert Lighthizer has been chosen for USTR in Donald Trump's second administration.
Despite looming geopolitical and labor uncertainties, freight markets are appearing to hold steady, trade industry executives told International Trade Today. But President-elect Donald Trump's announcement this week of plans to levy a 25% tariff against Mexico and Canada and increase by 10% the tariffs on Chinese goods (see 2411260012) could propel the freight markets into a frenzy should importers try to rush to get cargo in before the tariffs are implemented.
The exclusion process for Section 301 tariffs was understandable in one regard -- requests for goods linked to China's technology supremacy strategy known as Made in China 2025 were less likely to be successful.