CBP issued the following releases on commercial trade and related matters:
Section 301 tariff exclusions
The Office of the U.S. Trade Representative has established an exclusion process for Section 301 tariffs on China. In a series of rounds since the tariffs took effect, importers have been able to request exclusions from the tariffs, as well as extensions to existing exclusions. Many exclusions have been allowed to expire, as well. Section 301 exclusions are applicable to all importers of a given good, which may be defined as an entire tariff schedule subheading or a subset of a subheading outlined in a written description.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
More than 400 products that are excluded from Section 301 tariffs will continue to enter under normal duties through May 31, the Office of the U.S. Trade Representative announced Dec. 26. The exclusions had been scheduled to end at the end of this year.
Eliminating permanent normal trade relations (PNTR) with China would “leave a lasting scar” on the U.S. economy, costing each U.S. household $11,000 in real income over the period 2024 to 2028 and reducing competition and efficiency over the long term, according to a report released by the U.S.-China Business Council on Nov. 9.
The New Democrat Coalition, a caucus of pro-free trade Democrats, publicly released a letter to the president asking him to change course on trade, and work on traditional free trade agreements that lower tariffs and go through congressional approval. President Joe Biden has declined to work on any trade-liberalizing FTAs, saying that deals that can be negotiated more quickly that address supply chains, trade facilitation and other non-tariff barriers are more fit for today's challenges.
NEW YORK -- Apparel industry lobbyist David Spooner, speaking at the U.S. Fashion Industry Association annual conference, said employees of the Office of the U.S. Trade Representative have indicated to him that the office "might actually sunset some of the tariffs," and that importers will be able to apply for a new product exclusion. "Hopefully this is the case," he added.
Sen. Bill Cassidy, R-La., who traveled to China with the Senate majority leader and other senators in mid-October, said what he saw there reinforced his desire to pass what he calls a "foreign pollution fee," a tariff on imports that are more carbon intensive than domestic production. He told International Trade Today that he'll introduce the bill "we think later this month, or maybe early next month."
With the deadline to reach a deal on trade in steel and aluminum with the EU three weeks away, U.S. Trade Representative Katherine Tai is talking less about the commitment to reach a deal by the end of the month, and more about "progress."
U.S. Trade Representative Katherine Tai, speaking by video link at an Atlantic Council/Atlantik-Brücke program in Berlin Sept. 22, said she remains "very hopeful that we will have something to show the rest of the world in the next six-week period" as EU and U.S. negotiators continue to try to harmonize both trade defenses and approaches to privileging trade in green steel and aluminum.
The Office of the U.S. Trade Representative is extending 77 COVID-19-related tariff exclusions as well as the 352 Section 301 exclusions that were restored in March 2022. Both sets of exclusions, which were to expire at the end of September, will last through Dec. 31.