The U.S. will lower tariffs on EU goods covered by the automotive Section 232 action from 25% plus the most favored nation rate to a flat 15% as soon as the European Parliament introduces legislation to eliminate its industrial tariffs. A joint statement issued by the two sides Aug. 21 said the "tariff reductions are expected to be effective from the first day of the same month in which the European Union’s legislative proposal is introduced."
EU Trade Minister Maros Sefcovic said that the EU "will need to translate key elements of the joint statement into legislative proposals," and that politicians have a "firm intention" to "present these legislative proposals and launch this process still this month."
The Commerce Department published notices in the Federal Register Aug. 20 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 is setting new antidumping duty cash deposit requirements for imports of temporary steel fencing from China (A-570-198), after finding imports of the product are being sold in the U.S. at less than fair value in the preliminary determination of its AD investigation. Suspension of liquidation and cash deposit requirements generally took effect Aug. 19, but Commerce is making the suspension of liquidation and AD cash deposits retroactive to approximately May 21 for some Chinese companies.
The Commerce Department is setting new countervailing duty cash deposit requirements for imports of polypropylene corrugated boxes from China (C-570-208), after finding subsidization of Chinese producers in the preliminary determination of its CVD investigation. Suspension of liquidation and cash deposit requirements take effect for entries on or after Aug. 20, the date that the preliminary determination was published in the Federal Register.
The Commerce Department is setting new countervailing duty cash deposit requirements for imports of fiberglass door panels from China (C-570-210), after finding subsidization of Chinese producers in the preliminary determination of its CVD investigation. Suspension of liquidation and cash deposit requirements will take effect for entries on or after Aug. 21, the date that the preliminary determination is scheduled to be published in the Federal Register.
On Aug. 19, the FDA posted new and revised versions of the following Import Alerts (after not having posted new ones for a number of days) on the detention without physical examination of:
Treasury Secretary Scott Bessent told Fox News host Laura Ingraham that while he expects more trade talks with China in the next two months, the administration is "very happy" with the current combination of Section 301 tariffs, 20% fentanyl tariffs and 10% reciprocal tariffs on Chinese goods, he said.
The president of the American Soybean Association told President Donald Trump that soybean farmers "cannot survive a prolonged trade dispute with our largest customer," urging him to have his trade team persuade China to drop its 20% tariff on American soybeans.
Importer Allied Stone agreed to pay $12.4 million to settle claims that it violated the False Claims Act by evading antidumping duties and countervailing duties on quartz surface products from China, DOJ announced. The FCA case was initially filed by Melinda Hemphill, a whistleblower in the case, who will receive a $2,170,875 cut of the settlement.