U.S. domestic lumber companies are delighted that President Donald Trump is considering imposing Section 232 tariffs on imports of lumber and its derivative products, but U.S. domestic manufactures expressed concern and foreign countries pleaded for exemptions in public comments to the Bureau of Industry and Security.
The Senate Finance Committee held a confirmation hearing on April 10 for William Kimmitt to serve as undersecretary of commerce for international trade. In this role, Kimmitt would lead the International Trade Administration, the wing of the Commerce Department tasked with enforcing antidumping and countervailing duty laws.
Given the prohibitively high tariff levels placed on China, and the uncertainty surrounding reciprocal tariffs on other countries, USMCA-qualifying goods from Canada and Mexico are advantageous options for importers, according to compliance experts speaking at an Automotive Industry Action Group event on April 9.
Tariff policy has been changing so rapidly that CBP hasn't been able to dot all the i's and cross the t's before entries are subject to the new rules, and that's putting brokers in limbo at times, the customs committee chair for the National Customs Brokers & Forwarders Association of America told an audience of brokers at NCBFAA's national conference this week.
The most unwavering defenders of President Donald Trump's "reciprocal tariffs" policy -- including House Ways and Means Committee Chairman Jason Smith, R-Mo. -- were a bit undercut during a four-hour hearing on the president's trade agenda, because Trump reacted to Treasury market volatility and backed down.
CHANDLER, Ariz. -- A litany of new tariffs is creating a number of issues that brokers need to be aware of as they interact with their importer clients, including bond insufficiency and a potential increase in CBP requests for information, according to speakers on an April 8 panel at the National Customs Brokers & Forwarders Association of America’s annual conference.
With the White House announcing this week the end of the de minimis exemption for goods made in China starting next month, the U.S. will need to have the customs and trade infrastructure in place to handle significantly higher volumes of formal and informal entries, said Bernie Hart, vice president of customs for logistics provider Flexport.
The White House quietly released Annex III to President Donald Trump’s executive order on reciprocal tariffs yesterday, detailing Harmonized Tariff Schedule subheadings that will be used for the tariffs that take effect at 12:01 a.m. April 5 and April 9.
The White House released a pre-publication copy of President Donald Trump’s executive order on reciprocal tariffs, with Annex III to the order detailing Harmonized Tariff Schedule subheadings that will be used for the tariffs that take effect at 12:01 a.m. on April 5 and on April 9.
Multiple countries this week objected to President Donald Trump’s April 2 announcement of new reciprocal tariffs against trading partners (see 2504020072), saying they either plan to retaliate or are assessing how to respond.