The White House released President Donald Trump’s executive order extending the application of 10% reciprocal tariffs under subheading 9903.01.25 to China. The suspension of China’s higher country-specific tariff under subheading 9903.01.63 – currently set at 34% but previously as high as 125% -- will now remain in effect until 12:01 a.m. Nov. 10, the executive order said.
Once the U.S.-Japan deal is put to paper, Japanese goods will be subject to a flat 15% tariff, as long as the most-favored nation tariff that applies is at that rate or lower. For goods above 15% MFN, just the typical duty will apply, with no additional reciprocal tariff.
A recent CBP ruling saying gold bars are subject to reciprocal tariffs has sent shock waves through the gold futures market this week, according to news reports.
A 40% tariff on transshipped goods could apply to goods that include third-country content above 30%, according to Commerce Secretary Howard Lutnick, speaking on Fox Business Aug. 7.
Importers of automobiles and auto parts are facing a massive increase in compliance standards as the Trump administration's tariffs on automobiles force importers to reevaluate supply chains to find competitive advantage, compliance experts said during an Aug. 6 webinar.
President Donald Trump said in the Oval Office Aug. 6 that the U.S. will be imposing a tariff of "approximately 100%" on chips and semiconductors, "but if you're building in the United States of America, there is no charge."
On Aug. 27, Indian goods that are currently subject to reciprocal tariffs will be tariffed at an additional 25%, on top of the 25% reciprocal tariff set to take effect Aug. 7, the White House announced.
Thompson Hine trade lawyer Dan Ujczo, who has expertise in North American trade and, particularly, automotive trade in the USMCA region, said the way the carve-outs to 25% Section 232 tariffs have been shaking out has surprised him -- and, he believes, has surprised countries that are automaking powerhouses.
The U.S. will impose another additional 25% tariff on India beginning Aug. 27 to address India’s imports of Russian oil, said President Donald Trump in an executive order issued Aug. 6.
President Donald Trump denied having said he would impose Russia-related secondary tariffs of 100%, but said a decision on what tariffs would be imposed for countries buying Russian energy would be decided on Aug. 6.