A coalition of food producers, including the American Honey Producers Association, the Catfish Farmers of America, the Crawfish Processors Alliance, the Louisiana Farm Bureau Crawfish Committee, and the Southern Shrimp Alliance, sent a letter May 9 asking President Donald Trump to impose tariffs on "unfairly traded imports" of products similar to theirs.
DOJ is adding certain trade violations to the list of “priority areas” for its whistleblower awards program, Matthew Galeotti, head of DOJ’s Criminal Division, said during an industry conference May 12, according to a copy of his prepared remarks.
Revenue generated from audits totaled $117 million in April, down 62% from March's audit revenue total of $310 million but 228% higher than the $13 million generated in April 2024, according to CBP's monthly update.
Companies are starting to feel their way into a long-range import plan while still coping with a number of unknowns in the near term, according to a DHL official speaking during a May 12 company webinar on U.S. tariff updates.
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A bill being considered in the House Ways and Means Committee that would extend Trump tax cuts that would otherwise expire at the end of the year is looking to international trade to pay for part of the cost of income tax reductions. The bill also adds new tax breaks, such as on overtime pay and tips.
CBP released guidance on the decrease of the reciprocal tariff rate on China to 10% beginning at 12:01 a.m. EDT on May 14. As provided in the executive order issued by President Donald Trump the previous day, the guidance says filers of entries from China, Hong Kong and Macau after the effective date should report subheading 9903.01.25, which is the subheading for the 10% universal tariff applicable to almost all countries.
President Donald Trump touted his plan to get foreign health purchasers to pay more for pharmaceuticals, and U.S. consumers to pay less, as he signed an executive order seeking to equalize those prices.
Overnight, the U.S. issued a statement that, by May 14, it will suspend 115 percentage points of its 145% International Economic Emergency Powers Act tariffs on China, and keep the lower rate of 30% "for an initial period of 90 days" while trade talks go on.
The Trump administration is leaving 20% tariffs levied in response to fentanyl smuggling in place, while reducing what had been 125% reciprocal tariffs to just 10%, the same as all reciprocal tariffs globally.