Both Asian countries and American businesses had hoped that the Indo-Pacific Economic Framework could be a step on the road to lowering tariffs, trade experts said during a webinar on the future of IPEF, but now they're wondering if there will be any economically significant effect at all from talks about trade facilitation, green transition and supply chain resilience.
CBP has released its Jan. 17 Customs Bulletin (Vol. 58, No. 02), which includes the following ruling action:
U.S. Trade Representative Katherine Tai says that her agency and Congress "will need to work closely together" to address the fact that "existing rules of origin have left openings" for Chinese firms with operations outside China to avoid Section 301 tariffs and, depending where the operations occur, benefit from free trade agreements.
The Commerce Department published notices in the Federal Register Jan. 16 on the following AD/CV duty proceedings (any notices that announce changes to AD/CV duty rates, scope, affected firms or effective dates will be detailed in another ITT article):
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Customs attorney and former CBP official Sandra Bell previously with DLA Piper, joined Rimon PC as a partner, she announced on LinkedIn. Bell advises clients on regulations related to customs tariffs and import issues.
The Federal Maritime Commission will host a public hearing Feb. 7 to look at how conditions in the Red Sea and the Gulf of Aden are "impacting commercial shipping and global supply chains," the commission said Jan. 12. The FMC said the hearing will allow the shipping industry to share with the commission "how operations have been disrupted by attacks on commercial shipping emanating" from Houthi rebels in Yemen (see 2312200045).
U.S. Chamber of Commerce CEO Suzanne Clark criticized the Biden administration for not only choosing to avoid tariff liberalizing trade negotiations, but also for walking away from long-time positions on digital trade provisions. Clark, who was speaking at a press conference after the Chamber's annual State of American Business event, declined to say whether a second Donald Trump administration or another term of Joe Biden would be worse on trade.
House Ways and Means Committee Trade Subcommittee Chairman Adrian Smith, R-Neb., said he thinks the chances are good for renewing the Generalized System of Preferences benefits program in 2024, due to bipartisan interest in the legislation. "A lot of members have examples from their district of why we need GSP." He added that a three-year lapse of the benefit program is "inexcusable."
The Federal Maritime Commission is adjusting its civil monetary penalties for inflation, the agency said in a notice released this week. The changes, effective Jan. 15, increase maximum penalties for various violations of U.S. shipping regulations, including failing to establish "financial responsibility for nonperformance of transportation," illegal foreign shipping practices that have an “adverse impact” on U.S. carriers, “knowing and willful” violations of the Shipping Act, and operating in foreign commerce after a tariff suspension.