William Kimmitt, nominee for undersecretary of commerce for international trade, advanced out of the Senate Finance Committee on a party-line vote April 29.
CBP issued the following releases on commercial trade and related matters:
A listing of recent Commerce Department antidumping and countervailing duty messages posted on CBP's website April 28, along with the case number(s) and CBP message number, is provided below. The messages are available by searching for the listed CBP message number at CBP's ADCVD Search page.
CBP said in a Federal Register notice scheduled for April 30 publication that the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties will remain the same as for the previous quarter. For the calendar quarter that began April 1, the interest rates for underpayments will be 7% for both corporations and non-corporations. The interest rate for overpayments will be 7% for non-corporations and 6% for corporations.
The amount of net revenue coming from entry summary reviews for the first six months of FY 2025 has skyrocketed to a staggering $20.31 billion, well above the $667.55 million for all 12 months of FY 2024, according to trade statistics data last updated by CBP on April 25.
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.
Automakers who build cars in America and import parts to do so will get a partial credit against the costs of 25% Section 232 tariffs on non-USMCA qualifying parts -- but the Commerce Department will examine companies' projections of both how many cars and light trucks they expect to build in the U.S. between April 3, 2025, and April 30, 2026, and the aggregate value of the MSRP of those vehicles.
Correction: A credit that automakers will be able to put toward tariffs on auto parts will be set at 3.75% of the MSRP of vehicles they have built and sold in the U.S., a senior Commerce official said on a call with reporters.
Automakers who build cars in the U.S. will be able to avoid paying tariffs on some imported auto parts, to the degree that they have sold U.S.-built cars in the U.S., a senior Commerce official said on a call with reporters.
President Donald Trump issued an executive order April 29 exempting all goods "subject to" International Emergency Economic Powers Act tariffs on Canada and Mexico from Section 232 tariffs on steel and aluminum.