In the wake of President Donald Trump's May 12 executive order on prescription drug prices, CBP warned that it would "pursue any violations to the fullest extent possible" if it discovers that a party is failing to correctly input values related to prescription drug prices.
A reduction in reciprocal tariffs on Chinese goods to 10% has not ended the harm to families that need to stock up for new babies, Congress's "Dads Caucus" argued at a press conference May 15.
Rep. Jamie Raskin, D-Md., and Senate Minority Leader Chuck Schumer, D-N.Y., are teaming to introduce a bill called the Truth in Tariffs Act.
The U.S. Court of Appeals for the Federal Circuit on May 9 upheld the Court of International Trade's classification of 14 mixtures of frozen fruits and vegetables under Harmonized Tariff Schedule subheading 0811.90.80, the residual category for "other" frozen fruit.
The chaotic situation that importers and customs brokers have been facing as tariff policy swings wildly from one extreme to the next is partially due to the fact that CBP is unable to influence policy in the Trump administration, Pete Mento, director of customs and international trade at DSV, said on May 8. Decisions about tariffs are made without expert insight into how their actual implementation will affect the broader trade community, he said.
New economic research shows that universal tariffs will not be an effective revenue source for the U.S. government, economists with the Peterson Institute for International Economics said during an event April 30.
The Court of International Trade on May 2 held that importer BASF's fish oil ethyl ester concentrates "maintain the essence of fish" and are thus "extracts of fish" under Harmonized Tariff Schedule heading 1603 and not "food preparations" under heading 2106.
The following lawsuits were filed at the Court of International Trade during the weeks of March 17-23, March 23-30, March 31 - April 6, April 7-13, April 14-20 and April 21-27:
With so much uncertainty occurring with U.S. import regulations, companies should develop multiple strategies that address potentially different tariff outcomes, with some strategies being deployed in the short-term and others being deployed further down the road as the geopolitical situation becomes more clear, according to trade experts with professional services firm KPMG.
Starting April 23, the Animal and Plant Health Inspection Service will allow the importation of fresh rhizomes of wasabi (Eutrema japonicum) from Indonesia, it said in a notice.