Starting April 18, consumers buying electric cars and trucks manufactured in North America that do not have enough friend-shored critical minerals or North American battery components no longer will qualify for a $7,500 tax credit.
U.S. Trade Representative Katherine Tai reassured the members of the National Council of Textile Organizations that the Office of the U.S. Trade Representative has no interest in loosening rules of origin for clothing made in Central America and the Dominican Republic. Some have argued that the CAFTA-DR has not lived up to its potential because its rules are too restrictive (see 2112030045 and 2104140047).
In more than four hours of questioning during a hearing March 24 before the House Ways and Means Committee, no member of Congress advocated for lessening tariffs on Chinese goods under Section 301, or for reopening exclusions applications.
CBP issued the following releases on commercial trade and related matters:
CBP issued the following releases on commercial trade and related matters:
China's military ambitions, its role in the fentanyl crisis and Chinese purchases of U.S. farmland all got attention during the first hearing of the Select Committee on China -- but trade, and China's distortions of the global market, were the focus of both Democrats' and Republicans' questions to witnesses from the Trump administration and the head of the Alliance for American Manufacturing.
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.
CBP issued the following releases on commercial trade and related matters:
The Senate Finance Committee's chairman and ranking member said it's time to turn their attention to customs modernization, with both saying any bill will need to both enhance enforcement and make legitimate trade move faster and with more certainty.
CBP is opening up its Section 321 data pilot beyond the initial nine participants, and extending the pilot an additional two years, until August 2025, the agency said in a notice released Feb. 15. CBP also will allow submission of new, optional data elements as part of the pilot.