India and the U.S. will negotiate a bilateral trade agreement that will cover multiple sectors in tranches, with the first aiming for completion in the fall of 2025, President Donald Trump and Indian Prime Minister Narendra Modi said in their joint statement, released after their meeting Feb. 13.
In a Feb. 14 email alert to members, the National Customs Brokers & Forwarders Association of America warned that CBP has accepted some entries made by members even though those entries don't have proper duty calculations or new import duties on China that were mandated under President Donald Trump's executive order last week.
The EU chairman of the Committee for International Trade and a former U.S. trade representative predicted that the trade dispute between the U.S. and the EU is unlikely to subside soon due to "fundamental disagreements" over economic policy.
The fact that the White House reciprocal tariff memo covers far more than tariffs gives the administration a great deal of leeway to impose tariffs on even trading partners like Canada, Mexico and South Korea that have virtually no tariffs on U.S. exports.
The White House published the annex listing aluminum derivatives that will face additional Section 232 tariffs of 25%, as well as the annex with the steel derivatives that will face 25% tariffs.
The White House published its annex of steel derivative items that will be subject to Section 232 tariffs once CBP is ready to collect tariff revenue on those items.
The White House published the annex including the list of aluminum derivatives that will face additional 25% tariffs, unless the aluminum content in them was smelted and cast in the U.S.
More than a fifth of House Democrats, led by Rep. Jim Costa, D-Calif., asked President Donald Trump to reconsider broad tariffs on Canada and Mexico because of the inflationary impact they would have on housing construction.
Importers appear to be clamoring for more clarity over how CBP could potentially process imports of steel and aluminum derivatives in response to President Donald Trump’s executive orders earlier this week calling for 25% tariffs on steel and aluminum (see 2502110004).
The reciprocal tariffs that the U.S. intends to levy on imports -- which could be announced as soon as April 2 -- may not be a one-for-one match of the tariff rate of another country for that product. Rather, they could take into account wage suppression, exchange rate management, "mercantilist policies," non-tariff barriers, value-added tax and extraterritorial taxes.