Multiple countries said they're still assessing the impact of the new U.S. tariffs that took effect Aug. 1 (see 2507310081), although some that agreed to deals, including the EU and South Korea, said they now have more stability for their industries.
On the first day of higher tariffs for dozens of countries, prominent Democratic members of the House Ways and Means Committee attacked the policy, while the Republican chairman put a positive spin on soft employment numbers. The Senate minority leader used his daily floor speech to tie the tariffs to broader economic woes, while Republican leadership focused on Democrats' obstructions to prompt confirmation votes for presidential nominees.
CBP on July 31 provided guidance on new tariffs on Canadian imports, which were raised from 25% to 35% Aug. 1 (see 2507310082).
U.S. Trade Representative Jamieson Greer, in two television interviews Aug. 1, defended a surprise 39% rate for Swiss exports and said his focus isn't on reaching new settlements before reciprocal tariffs begin collection Aug. 7. Rather, he said, "We're really focused right now on implementing the deals that have been reached."
The Bureau of Industry and Security is seeking public comments on an information collection related to Section 232 national security adjustments for imports, it said in a Federal Register notice. The data collection relates to presidential proclamations 10895 and 10896, which require the Department of Commerce secretary to establish a process for including additional derivative aluminum and steel articles within the Section 232 tariffs for steel and aluminum. BIS said the agency is collecting data as part of broader efforts by the commerce secretary to conduct investigations on the effects on U.S. national security of importing an article. Comments are due by Sept. 30.
Sen. Tim Kaine, D-Va., Senate Minority Leader Chuck Schumer of New York, Senate Finance Committee ranking member Ron Wyden of Oregon and Sen. Jeanne Shaheen, D-N.H., made a joint announcement July 31 that they will request a vote to end the new International Emergency Economic Powers Act declaration for Brazil, that underpins an additional 40% tariff on a portion of Brazil's exports.
Sens. Tim Kaine, D-Va., and Rand Paul, R-Ky., expressed frustration this week with the potential impact on the U.S. spirits industry from the Trump administration's tariffs, saying they will continue fighting to repeal duties introduced through both the International Emergency Economic Powers Act and Section 232.
On the eve of more tariff hikes, four prominent Senate Democrats decried what they said were so-called deals -- or, as Senate Minority Leader Chuck Schumer put it, "a raw deal for the American people."
President Donald Trump, after softening his tone on India with reporters earlier in the day, posted angrily about India and its purchases of Russian oil at midnight on July 31.
CBP will be watching for entries that don't fully calculate the duty value of merchandise that falls under Section 232 duties for copper and intensive copper derivatives products, according to a cargo systems message offering guidance on the tariff that was announced earlier this week (see 2507300061). The Section 232 tariff calls for a 50% ad valorem duty on all imports of semi-finished copper products and intensive copper derivative products from all countries.