Now that the White House appears to have given more direction on its trade and tariff actions, more companies may transition from a wait-and-see approach to more specific courses of action, trade experts with KPMG said during a July 31 webinar on tariffs and trade complexities.
The National Foreign Trade Council responded to the U.S. hikes in tariffs Aug. 1 (see 2507310081) by saying that agreements to remove some trade barriers are encouraging but "a great deal of work remains to be done to make sure they deliver on those promises and to accelerate efforts to remove discriminatory measures that were not part of those initial understandings.
Way2Go Cargo, a Florida-based freight forwarder, has accused two people who were affiliated with the company of violating the Shipping Act by running a competing business without obtaining a required license from the Federal Maritime Commission, according to a complaint filed with the FMC July 25.
Multiple countries said they're still assessing the impact of the new U.S. tariffs that took effect Aug. 1 (see 2507310081), although some that agreed to deals, including the EU and South Korea, said they now have more stability for their industries.
The International Trade Commission published notices in the Aug. 1 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 Aug. 1 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 released the preliminary results of its antidumping duty administrative review on carbon and alloy steel wire rod from South Korea (A-580-891), calculating a 0.51% AD rate for POSCO and its affiliated company POSCO International Corporation. If the agency's finding is continued in the final results, importers of subject merchandise from POSCO entered between May 1, 2023, and April 30, 2024, will be assessed AD at importer-specific rates.
The Commerce Department released the final results of the antidumping duty administrative review on carbon and certain alloy steel wire rod from Mexico (A-201-830). These final results will be used to set final assessments of AD on importers for subject merchandise from companies under review entered October 2022 through September 2023.
On July 31, the FDA posted new and revised versions of the following Import Alerts on the detention without physical examination of:
On the first day of higher tariffs for dozens of countries, prominent Democratic members of the House Ways and Means Committee attacked the policy, while the Republican chairman put a positive spin on soft employment numbers. The Senate minority leader used his daily floor speech to tie the tariffs to broader economic woes, while Republican leadership focused on Democrats' obstructions to prompt confirmation votes for presidential nominees.