U.S. tariffs won't apply to gold, President Donald Trump said in an Aug. 11 Truth Social post, despite a July 31 CBP ruling that found that gold bars are subject to reciprocal tariffs if they have been processed (see 2508080017).
The White House released President Donald Trump’s executive order extending the application of 10% reciprocal tariffs under subheading 9903.01.25 to China. The suspension of China’s higher country-specific tariff under subheading 9903.01.63 – currently set at 34% but previously as high as 125% -- will now remain in effect until 12:01 a.m. Nov. 10, the executive order said.
The U.S. filed a motion for default judgment on Aug. 7 against importer E-Dong, U.S.A. in pursuit of $234,748.30 in lost revenue due to the importer's negligent failure to pay a federal excise tax on its "Korean distilled beverage soju." The government said E-Dong lied on customs forms by misclassifying the distilled liquor as rice wine, adding that these misstatements "constitute negligent violations for failure to exercise reasonable care and competence" (United States v. E-Dong, U.S.A., CIT # 24-00066).
CBP issued the following releases on commercial trade and related matters:
A recent CBP ruling saying gold bars are subject to reciprocal tariffs has sent shock waves through the gold futures market this week, according to news reports.
As importers seek to comply with the many tariffs that have been introduced or modified in recent months, they will need to be mindful of entry construction if their goods are eligible for duty drawback, according to Tim Vorderstrasse, a licensed customs broker with Flexport, speaking during his company's Aug. 6 webinar on tariffs.
CBP improperly classified importer Air Distribution USA's shisha molasses, also known as "hookah tobacco," as a type of "smoking tobacco" and erroneously subjected the shisha molasses to federal excise taxes on "pipe tobacco," Air Distribution argued in a complaint last month at the Court of International Trade (Air Distribution USA v. United States, CIT # 25-00063).
CBP created Harmonized System Updates 2530 and 2531 on Aug. 5. HSU 2530 contains 404 Automated Broker Interface records and 135 Harmonized Tariff Schedule records. HSU 2531 contains four ABI records and two HTS records. HSU 2530 includes the additional duties on imports from Brazil effective Aug. 6, the reciprocal tariff updates effective Aug. 7, and miscellaneous tariff adjustments required by verification of the 2025 HTS. HSU 2531 includes an update to the countries of origin for the EU reciprocal tariffs.
A domestic producer recently filed a petition with the Commerce Department and the International Trade Commission requesting antidumping and countervailing duties be imposed on unwrought palladium imported from Russia. Commerce now will decide whether to begin AD/CVD investigations, which could result in the imposition of permanent AD/CVD orders and the assessment of AD and CVD on importers. Stillwater Mining Company and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, requested the investigation.
The following lawsuits were filed at the Court of International Trade during the week of July 28 - Aug. 3.