The European Union is going to be the "major victim" of President Donald Trump's "Liberation Day" on April 2, experts at the Center for Strategic and International Studies predicted.
Trade facilitation appears to be taking a back seat to trade enforcement, based on recent actions taken by President Donald Trump and the Department of Government Efficiency to streamline federal operations, said a trade attorney during a March 26 webinar on tariffs and recent trade actions sponsored by Venable.
Reactions from across the U.S. automotive industry and the world poured in after President Donald Trump announced 25% tariffs on all imports of automobiles beginning April 3.
Customs attorney Dan Ujczo, speaking to an audience of automotive industry compliance officials hosted by the Automotive Industry Action Group, cautioned that if the listeners' companies are exporting auto parts from Mexico or Canada, they shouldn't assume that they have until May 3 before 25% tariffs are going to bite. (This is assuming the parts currently qualify for USMCA and therefore are avoiding the 25% tariffs imposed on exports from those countries under the guise of a national emergency on fentanyl smuggling and migration.)
President Donald Trump, in a March 25 interview with Newsmax, said that while he doesn't "want to have too many exceptions" to the reciprocal tariffs, the percentage that is imposed may be lower than what the administration assesses is the total burden of tariffs and non-tariff barriers.
As the U.S., Mexico and Canada are poised to renegotiate the free trade agreement known as USMCA among the three countries, expect the U.S. to review the rules of origin and "tighten them" in favor of requiring a higher percentage of North American content, trade attorneys with Miller and Chevalier said on a March 25 webinar sponsored by public accounting firm Forvis Mazars.
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Though China was specifically mentioned in an executive order issued late March 24 announcing 25% tariffs on countries that import Venezuelan oil, India and the EU also imported Venezuelan oil in 2024, according to a report from Reuters earlier this year.
Most business interests argued that removing goods subject to Section 301 tariffs is not administrable, would damage the economy, and, if not abandoned, needs a long lead time to prepare for, in comments to CBP.
The Bureau of Industry and Security plans to soon issue general authorizations for certain Chinese connected vehicle imports, which could offer exemptions for small-scale manufacturers or companies importing items for testing, research or repair, Commerce Department officials said.