A bill being considered in the House Ways and Means Committee that would extend Trump tax cuts that would otherwise expire at the end of the year is looking to international trade to pay for part of the cost of income tax reductions. The bill also adds new tax breaks, such as on overtime pay and tips.
CBP released guidance on the decrease of the reciprocal tariff rate on China to 10% beginning at 12:01 a.m. EDT on May 14. As provided in the executive order issued by President Donald Trump the previous day, the guidance says filers of entries from China, Hong Kong and Macau after the effective date should report subheading 9903.01.25, which is the subheading for the 10% universal tariff applicable to almost all countries.
The Court of International Trade on May 13 heard arguments in the lead case on the president's ability to impose tariffs under the International Emergency Economic Powers Act. Judges Jane Restani, Gary Katzmann and Timothy Reif pressed counsel for the plaintiffs, the Liberty Justice Center's Jeffrey Schwab, and DOJ attorney Eric Hamilton on whether the court can review whether a declared emergency is "unusual and extraordinary," as well as the applicability of Yoshida International v. U.S., a key precedential decision on the issue, and whether the major questions doctrine applies and controls the case (V.O.S. Selections v. Trump, CIT # 25-00066).
Robert Silvers, a former DHS official who worked on forced labor enforcement, China policy and issues related to the Committee on Foreign Investment in the U.S., joined Ropes & Gray. Silvers will co-chair the firm’s national security practice, where he will focus on “critical matters at the intersection of national security, technology, and law,” it said. He left DHS in December after serving as undersecretary for policy and chair of the Forced Labor Enforcement Task Force.
The Fossil Energy Office of the Department of Energy has issued a direct final rule saying that the agency has amended the regulations for administrative procedures related to the import and export of natural gas. These amendments seek to update and streamline the general requirements for filing documents with the office, according to a Federal Register notice.
The Department of Energy is planning to withdraw or revise a number energy efficiency standards, reporting requirements and determinations that products are covered under the Energy Policy and Conservation Act, according to several Federal Register notices.
The Commerce Department published notices in the Federal Register May 12 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 made preliminary affirmative antidumping duty determinations that imports of thermoformed molded fiber products from China (A-570-182) and Vietnam (A-552-845) are being sold in the U.S. at less than fair value. The agency is imposing AD cash deposit requirements on entries of subject merchandise beginning May 12.
The Commerce Department has released the final results of the antidumping and countervailing duty administrative reviews on oil country tubular goods (OCTG) from India (A-533-857/C-533-858). These final results will be used to set final assessments of AD for subject merchandise for the companies under review entered Sept. 1, 2022, through Aug. 31, 2023, and CVD for entries Jan. 1, 2022, through Dec. 31, 2022.
The Commerce Department has released the final results of the antidumping duty administrative review on passenger vehicle and light truck tires from Thailand (A-549-842). These final results will be used to set final assessments of AD duties on importers for subject merchandise entered July 1, 2022, through June 30, 2023.