Commerce Secretary Howard Lutnick, after receiving critiques over 10% tariffs on bananas and tariffs on Asian food imports from House Appropriations Committee members, said that countries that sell "unavailable natural resources" like bananas, cocoa, coffee and spices will be allowed to export those goods duty-free, as long as they don't have barriers to U.S. agricultural exports.
The International Trade Commission published notices in the June 4 Federal Register on the following antidumping and countervailing duty (AD/CVD) injury, Section 337 patent or other trade proceedings (any notices that warrant a more detailed summary will be in another ITT article):
The Commerce Department published notices in the Federal Register June 4 on the following antidumping and countervailing duty (AD/CVD) proceedings (any notices that announce changes to AD/CVD rates, scope, affected firms or effective dates will be detailed in another ITT article):
The Commerce Department has published the preliminary results of its antidumping duty administrative review on sodium nitrite from India (A-533-906). The agency preliminarily calculated a zero percent AD rate for the one company under review, Deepak Nitrite Limited. If the agency's finding is continued in the final results, importers of subject merchandise from Deepak entered Aug. 17, 2022, through Jan. 31, 2024, will not be assessed AD, and future entries from the company won't be subject to an AD cash deposit requirement until further notice. Any changes to the rate for Deepak would take effect on the date of publication in the Federal Register of the final results of this review, which are due in October.
The Commerce Department has published the preliminary results of its antidumping duty administrative review on stainless steel plate in coils from Belgium (A-423-808). The agency preliminarily calculated a zero percent AD rate for the only company under review, Aperam Stainless Belgium NV. If the agency's finding is continued in the final results, importers of subject merchandise from Aperam entered May 1, 2023, through April 30, 2024, won't be assessed AD. Any changes to rates for Aperam would take effect on the date of publication in the Federal Register of the final results of this review, due in October.
The Commerce Department has released the final results of the antidumping duty administrative review on stainless steel flanges from India (A-533-877). These final results will be used to set final assessments of AD duties on importers for subject merchandise from 13 companies under review entered Oct. 1, 2022, through Sept. 30, 2023.
The nonpartisan Congressional Budget Office estimates that there would be $2.5 trillion collected in tariffs -- after accounting for consumer changes -- from 2025 to 2035 if the global 10% reciprocal tariff remained, de minimis was still curtailed, and tariffs on most Chinese products and on some Mexican and Canadian products, as well as 25% tariffs on the auto sector, steel and aluminum, continue during that period. (The estimate was prepared before the president doubled the tariffs on steel and aluminum.)
CBP created Harmonized System Update 2521 on June 4, containing 73 Automated Broker Interface records and 35 Harmonized Tariff Schedule records. HSU 2521 includes Section 232 Aluminum and Steel tariff adjustments effective June 4.
CBP issued a pair of CSMS messages late June 3 clarifying the changes to the steel and aluminum tariffs.
Given an increase in Section 232 tariffs on steel and aluminum (see 2506030071), it may be less costly for importers to no longer take advantage of an exemption from tariffs on autos and auto parts for USMCA goods, according to a tariff expert at supply chain logistics platform Flexport.