The Coalition for a Prosperous America, whose first CEO joined the Office of Management and Budget as associate director for economic policy (see 2502240005), is calling for replacing USMCA with two bilateral trade agreements. The CPA submitted comments for the USMCA six-year review.
While importers may explore tariff mitigation strategies such as duty drawback, bonded warehouses, foreign-trade zones and free trade agreement eligibility, ensuring proper tariff classification should be the first and top priority, because potentially thousands of dollars in the underpayment -- or overpayment -- of duties is at stake if a good is classified incorrectly, speakers said during a panel at last week's International Compliance Professionals Association conference in Texas.
As CBP ramps up enforcement and seeks to ensure that importers' claims of first sale are valid, expect the agency to pay close attention to the documents of the middleman, said tax consultants with KPMG during an Oct. 27 presentation on first sale at the International Compliance Professionals Association's annual conference in Texas.
As companies navigate the increasingly complex U.S. trade landscape, companies should "shift left" and adjust their trade compliance strategies so that potential compliance issues are caught upstream in areas such as sales, procurement and development before hitting the duty filing stage, a software developer said at the International Compliance Professionals Association conference in Grapevine, Texas, on Oct. 27.
The following lawsuits were filed at the Court of International Trade during the weeks of Oct. 13-19 and 20-26:
After President Donald Trump posted that he was terminating all trade negotiations with Canada because the government paid for a pro-free-trade ad to air in the U.S., Canadian Prime Minister Mark Carney told reporters that Canada is ready to resume talks whenever the U.S. is ready.
President Donald Trump, after a commercial aired in Ontario with audio from Ronald Reagan pointing out that tariffs harm the country that imposes them, declared on social media after 11 p.m. Oct. 23, "Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED."
RANCHO MIRAGE, Calif. -- As CBP ramps up trade enforcement, companies must not only strive to have their supporting documents in order, they also must scrutinize CBP's enforcement actions to ensure the agency is interpreting matters correctly, trade attorneys said at last week's Western Cargo Conference (WESCCON).
The U.S. will appeal a recent Court of International Trade decision vacating the Commerce Department's decision not to collect antidumping and countervailing duties on solar cells from Cambodia, Malaysia, Thailand and Vietnam (Auxin Solar v. United States, CIT # 23-00274).
The following lawsuits were filed at the Court of International Trade during the week of Oct. 6-12: