Tariffs cause ripple effects throughout the international trade and business communities beyond just the levies on goods at the time of entry, experts said during a Zencargo "Tariff Talk" webinar on March 31.
Importers are still waiting for additional direction from CBP on how to manage new duties on steel and aluminum derivatives outside of Chapters 73 and 76, speakers on a KPMG webinar said last week.
Four Harmonized Tariff Schedule codes were mistakenly identified as needing to pay Section 232 duties under HTS 9903.85.08, according to an April 1 cargo systems message.
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Sen. Tim Kaine, D-Va., called on the Senate to revoke what he called "the fake emergency" of drug smuggling and migration across the Canadian border, the pretext for imposing 25% tariffs on most Canadian goods and 10% tariffs on energy and potash fertilizer.
To date, no major lawsuits challenging any of the new tariff actions taken by President Donald Trump have been filed. The reasons for that include high legal hurdles to success and inconsistency in the implementation of the tariffs, trade lawyers told us.
Robust communication with importers’ suppliers, as well as using publicly available alternative data sets, are two ways that companies can ensure UFPLA compliance, especially in an environment of uncertainty about how much the White House will focus on forced labor in the supply chain, according to speakers participating on two webinars hosted by Kharon last week.
The U.S. Trade Representative has published its annual trade estimate, almost 400 pages of tariff and non-tariff barriers in countries around the world. The report noted, "The estimates included in this report constitute an attempt to quantitatively assess the potential effect of removing certain foreign trade barriers to particular U.S. exports. However, the estimates cannot be used to determine the total effect on U.S. exports, either to the country in which a barrier has been identified, or to the world in general. In other words, the estimates contained in this report cannot be aggregated in order to derive a total estimate of gain in U.S. exports to a given country or the world."
President Donald Trump, in interviews with "Meet the Press" over the weekend, said a 25% tariff on purchasers of Russian oil could happen at any moment if he decides Russia is the impediment to peace in Ukraine.
Authorities in Beijing watching the Trump administration "sabotage itself" with tariffs on allies and redefinition of the international order are in no hurry to establish a U.S.-China trade deal, experts said at a March 31 event.