The Trump administration's decision to pause most reciprocal tariffs on April 9 was a "well-planned move" and not a reaction to the bond market, National Economic Council director Kevin Hassett said in an interview with CNBC April 10.
Two members of the Blackfeet Nation tribe filed a lawsuit in the U.S. District Court for the District of Montana against various tariff actions by President Donald Trump, arguing that Trump's use of the International Emergency Economic Powers Act is an "unconstitutional exercise of congressional authority." The individuals, Montana state Sen. Susan Webber and rancher Jonathan St. Goddard, also claimed that Trump's tariff orders unconstitutionally deprived them of procedural due process and are "void for vagueness."
CBP created Harmonized System Update 2515 on April 10, containing 88 Automated Broker Interface (ABI) records and 35 Harmonized Tariff Schedule records. HSU 2515 includes the reciprocal tariff updates, effective April 10.
The pause on higher country-specific reciprocal tariffs for all covered countries except China took effect just after midnight on April 10, CBP said in a CSMS message.
The most unwavering defenders of President Donald Trump's "reciprocal tariffs" policy -- including House Ways and Means Committee Chairman Jason Smith, R-Mo. -- were a bit undercut during a four-hour hearing on the president's trade agenda, because Trump reacted to Treasury market volatility and backed down.
China raised the tariff rate on U.S.-origin goods, from 34% to 84%, in response to President Donald Trump's April 8 executive order raising reciprocal rates by 50% (see 2504080079), the Office of the Tariff Commission of the State Council announced April 9. The new tariffs will take effect at 12:01 a.m. April 10, the commission said, according to an unofficial translation.
President Donald Trump’s April 8 executive order that raised the reciprocal tariff on China to 84% also increased tariffs applicable to postal shipments.
CHANDLER, Ariz. -- As President Donald Trump’s tariffs and his related trade rhetoric prompt a trade war, the potential for cyberattacks within the U.S. trade industry could increase, according to a panelist speaking at the National Customs Brokers & Forwarders Association of America’s annual meeting.
A “major” tariff on pharmaceuticals will be announced “very shortly,” President Donald Trump said April 8.
The pause on higher country-specific reciprocal tariffs for all covered countries except China takes effect tonight, April 10, at 12:01 a.m., said CBP in a CSMS message. Beginning at that time, all goods except goods for goods from China (including Hong Kong and Macau) and goods exempt from the reciprocal tariffs, including goods from Canada and Mexico, will be subject to the 10% tariff rate under subheading 9903.01.25.