U.S. Trade Representative Katherine Tai and her counterpart from the EU, Valdis Dombrovskis, said their discussions on a critical minerals agreement and a deal to privilege green steel and aluminum trade were productive. It was the fourth time this year that Tai and the EU's top trade official met.
CBP issued the following releases on commercial trade and related matters:
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CBP will not be granting any additional extensions for new aluminum entry summary filing requirements related to Section 232 tariffs on Russia, a CBP official confirmed during a webinar hosted by the National Customs Brokers & Forwarders Association of America on April 6.
A proposed formula for apportioning the value of tooling assists to imported auto parts can’t be used by an importer because it doesn’t take into consideration the country of origin of the imported parts and so fails to account for the possibility that they could be subject to additional Section 301 and Section 232 duties, CBP said in a ruling released March 27.
The top trade official in the EU, European Commission Executive Vice President Valdis Dombrovskis, said a critical minerals agreement that would secure "FTA-equivalent treatment" under the Inflation Reduction Act incentives could happen within "a few months."
While the Section 232 tariffs increased domestic steel production by 5% and increased smelter utilization by about 15%, there was $3.4 billion less manufacturing across the most impacted metal consuming industries -- industrial machinery, cutlery and handtool factories; motor vehicle suspension and steering components; agricultural/mining/construction manufacturing, and metal fabricators, according to an International Trade Commission report.
CBP issued the following releases on commercial trade and related matters:
CBP issued the following releases on commercial trade and related matters:
CBP created Harmonized System Update (HSU) 2304 on March 9, containing 77 ABI records and 18 Harmonized Tariff Schedule records. These changes include additional Section 232 duties on imports of aluminum and derivative aluminum products from Russia and changes to HTS flagging. "With the upcoming ACE HTS deployment in May 2023, we recommend testing in ACE Certification," CBP said in a March 10 CSMS message.