On his first day in office, the president directed the heads of agencies that deal with trade, tariff collection and trade remedies to:
No goods subject to special trade remedies -- 99.9% of which are subject to Section 301 tariffs -- would be able to enter as de minimis shipments under a proposed rule released by CBP Jan. 17.
The following lawsuits were filed at the Court of International Trade during the weeks of Dec. 30 - Jan. 5 and Jan. 6-12:
The following lawsuits were filed at the Court of International Trade during the weeks of Dec. 16-22 and 23-29:
Rep. Don Beyer, a long-time trade liberalization advocate, led a 90-minute hearing making the case against more tariffs in the second Trump administration, and Senate Budget Committee Chairman Sheldon Whitehouse, Majority Leader Chuck Schumer and Senate Finance Committee Chairman Ron Wyden slammed the economic impact of campaign tariff promises as the Democrats try to use their bully pulpits in the last week before Republicans will have control at both ends of Pennsylvania Avenue.
Venable lawyers said no one knows whether President-elect Donald Trump will hike tariffs on China by 10 percentage points, by 60 percentage points, or bring current tariff levels to 60%. Nor does anyone know if the threat of 25% tariffs on Canadian and Mexican exports will become reality.
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.
The Steel Manufacturers Association is asking President-elect Donald Trump to curtail current Section 232 quota restrictions and to end Section 232 exemptions for some Mexican products, to expand Section 232 to more downstream products, and greatly narrow exclusions to the tariffs.
The exclusion process for Section 301 tariffs was understandable in one regard -- requests for goods linked to China's technology supremacy strategy known as Made in China 2025 were less likely to be successful.
President-elect Donald Trump will most likely either turn to the International Emergency Economic Powers Act (IEEPA) or Section 301 of the Trade Act of 1974 to impose his recently announced tariffs on Canada, Mexico and China, said trade lawyers interviewed by Trade Law Daily. Though much remains unknown about how Trump will impose these tariffs, the president-elect may turn to the two broad statutes to impose the tariffs to accomplish his stated goals of curbing the flow of migrants and fentanyl into the U.S.