The Senate version of the tax bill moving through Congress cut out two trade-related provisions that passed the House -- one, which would end de minimis for all imports in July 2027, and the other, curtailing drawback for tobacco products.
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.
CBP is preparing ACE to handle calculating estimated duties from entry summaries that might have more than two Harmonized Tariff Schedule codes attached, according to the agency's latest ACE development and deployment schedule for June.
CBP posted the following documents for the June 18 Commercial Customs Operations Advisory Committee (COAC) meeting:
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.
CBP issued the following releases on commercial trade and related matters:
Treasury Secretary Scott Bessent said that if 18 major trading partners negotiate in good faith, "it is highly likely ... we will roll the date forward to continue in good faith negotiations." He was referring to the July 9 deadline when country-specific reciprocal tariffs above 10% are due to return.
The nonpartisan Congressional Budget Office estimates that there would be $2.5 trillion collected in tariffs -- after accounting for consumer changes -- from 2025 to 2035 if the global 10% reciprocal tariff remained, de minimis was still curtailed, and tariffs on most Chinese products and on some Mexican and Canadian products, as well as 25% tariffs on the auto sector, steel and aluminum, continue during that period. (The estimate was prepared before the president doubled the tariffs on steel and aluminum.)
CBP's Commercial Customs Operations Advisory Committee will be holding its quarterly meeting on June 18 in Washington, D.C., according to a Federal Register notice.
President Donald Trump said at a press conference in the Oval Office that the U.S. would no longer have an economically viable country if higher courts uphold the rulings from the Court of International Trade and a U.S. district court that he doesn't have unbounded power to hike tariffs under an emergency statute.