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.
Only 13 hours after reciprocal tariffs of 11% to 84% began, President Donald Trump said he is pausing the higher country-specific tariffs for 90 days -- except for China, whose total emergency tariff will go from 104% to 125%, according to a White House spokesperson. The baseline additional 10% tariff -- which applies to nearly all countries, but not Mexico and Canada -- remains in place.
President Donald Trump, on his social media account, said that he will drop high reciprocal tariffs that started today for 90 days. However, the 10% tariff imposed on nearly all trading partners will remain.
China opened a dispute at the World Trade Organization on April 8 on the U.S. reciprocal tariffs, claiming that the duties violate the General Agreement on Tariffs and Trade (GATT) 1994, the Agreement on Customs Valuation and the Agreement on Subsidies and Countervailing Measures. China's challenge covers the 34% additional tariff on Chinese imports that is set to take effect April 9, along with the 10% duty on imports from all trading partners, which took effect on April 5.
CBP created Harmonized System Update 2513 on April 4, containing 27 Automated Broker Interface (ABI) records and 11 Harmonized Tariff Schedule records. HSU 2513 includes the Reciprocal Tariff updates, effective April 5, and PGA updates. For additional information on the tariff updates, CSMS # 64649265 is available to provide more on tariffs with an effective date of April 5 (see 2504020072).
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After a resolution to roll back the tariffs on Canada passed the Senate, Senate Democrats and Sen. Rand Paul, R-Ky., are pushing for a similar vote to end reciprocal tariffs and a global 10% tariff, as are 26 Democrats in the House.
Republicans on the Senate Finance Committee mostly stood by President Donald Trump's dramatic tariff moves, though many emphasized that the result should be lower non-tariff barriers for U.S. agricultural exports, not a permanent tariff wall around the U.S. economy.