President Donald Trump posted on social media that he is "pleased to announce" that trade negotiations addressing trade barriers between India and the U.S. are continuing. He added: "I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!"
The National Taxpayers Union, an anti-tax group, is arguing that House Republicans should not, for the third time, change the rules of the House to block a vote on the underlying emergencies that allowed the president to impose tariffs under the International Emergency Economic Powers Act.
The Supreme Court on Sept. 9 agreed to hear two cases on the legality of tariffs imposed under the International Emergency Economic Powers Act and to do so on an expedited basis. The court set a briefing schedule that would conclude by Oct. 30 and set argument for the first week of November (Donald J. Trump v. V.O.S. Selections, U.S. 25-250) (Learning Resources v. Donald J. Trump, U.S. 24-1287).
The Supreme Court agreed to hear two cases, on an expedited basis, concerning the legality of tariffs imposed under the International Emergency Economic Powers Act. Briefing will conclude by Oct. 30 and the consolidated cases will be heard the first week of November. The high court decided to consolidate two cases on the issue, one of which was fully before the court on the merits following the U.S. Court of Appeals for the Federal Circuit's ruling that the reciprocal tariffs and tariffs on China, Canada and Mexico to combat the flow of fentanyl went beyond the president's authority in IEEPA. The second case, which was pending before the U.S. Court of Appeals for the D.C. Circuit, was exclusively on whether IEEPA categorically allows for tariffs.
The executive order implementing the U.S.-Japan tariff deal is scheduled for publication in the Federal Register on Sept. 9, starting a seven-day clock for publication of a subsequent notice reducing tariffs on Japanese autos and auto parts currently subject to 25% Section 232 tariffs.
CBP provided guidance on the latest changes announced Sept. 5 to reciprocal tariff exemptions under the "Annex II" list, addressing specifically goods that have been added or removed from Annex II. For entries pre-filed with subheading 9903.01.32 for consumption on or after Sept. 8, "importers should take action as necessary to correct entries to reflect the correct reciprocal tariff applicability as soon as possible no later than within ten days of the cargo’s release from CBP custody," according to a Sept. 6 cargo systems message.
Nearly 40 minerals -- including gold bullion -- as well as sintered neodymium-iron-boron magnets and LEDs are no longer subject to reciprocal tariffs.
The Treasury Department will refund tariffs imposed through the International Emergency Economic Powers Act if the government loses its case at the Supreme Court, Treasury Secretary Scott Bessent said.
Plaintiffs in the primary case on the legality of tariffs imposed under the International Emergency Economic Powers Act told the Supreme Court on Sept. 5 that they consent to the high court's review of the case. Responding to the government's petition for writ of certiorari filed after the U.S. Court of Appeals for the Federal Circuit ruled against many of the tariffs, the plaintiffs, consisting of five importers, said Supreme Court review is "essential," and the court's "final word is needed urgently" in light of the harm wrought by the tariffs (Donald J. Trump v. V.O.S. Selections, U.S. 25-250).
Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.