Businesses should anticipate that even more derivative products could be added to the list of Section 232 tariffs for steel and aluminum (see 2508150063), Flexport senior trade advisory manager Anna Zajac said during an Aug. 20 company webinar on the tariffs.
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The threat of the Trump administration's tariff policy looms over the upcoming USMCA review, causing former officials involved in the initial negotiations to warn that the review may turn into a non-stop renegotiation complicated by tariff discussions.
The Commerce Department published notices in the Federal Register Aug. 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):
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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.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
Former trade negotiators and government trade advisers from both the Office of the U.S. Trade Representative and Canada described the negotiating process of the last three months as one wherein even Cabinet members couldn't promise that a deal was done.
Goods from Mexico that aren't subject to Section 232 tariffs will continue to be excluded from tariffs if they can meet USMCA rules of origin, as will auto parts, President Donald Trump announced about 12 hours ahead of the deadline. For goods outside the Section 232 action, and not eligible for the free-trade agreement benefit, Trump had said the rate would go from 25% to 30%.
The U.S. is raising tariffs on Canada from 25% to 35% effective Aug. 1 because Canada has "failed to cooperate" in stopping flows of fentanyl and other illegal drugs across the border, the White House said in a July 31 fact sheet. Goods qualifying for preferential tariff treatment under USMCA will continue to be exempt from the duties, the White House said, and goods found to have been transshipped to evade the 35% tariff will face a 40% tariff.