The House Ways and Means Committee, after an all-night session on what it calls One Big Beautiful Bill, passed the tax cut bill along party lines on May 14.
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The Senate Finance Committee's top Democrat, Sen. Ron Wyden of Oregon, said he thinks Republicans in Congress will act to reverse some of the tariffs President Donald Trump has imposed -- if they hear enough outrage from Republican base voters.
A bill being considered in the House Ways and Means Committee that would extend Trump tax cuts that would otherwise expire at the end of the year is looking to international trade to pay for part of the cost of income tax reductions. The bill also adds new tax breaks, such as on overtime pay and tips.
CBP released guidance on the decrease of the reciprocal tariff rate on China to 10% beginning at 12:01 a.m. EDT on May 14. As provided in the executive order issued by President Donald Trump the previous day, the guidance says filers of entries from China, Hong Kong and Macau after the effective date should report subheading 9903.01.25, which is the subheading for the 10% universal tariff applicable to almost all countries.
The nominee to lead CBP, former Border Patrol Chief Rodney Scott, told the Senate Finance Committee that during high school in Nogales, Arizona, a lot of his friends' parents were customs brokers, so he saw the importance of free-flowing goods across borders.
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.
Customs brokers will be able to file Type 11 informal entries for articles under $2,500, even if they are categorized in Chapter 99 and are subject to tariffs, from all countries, according to an April 28 cargo systems message from CBP.
CBP on April 24 quietly removed from its list of FAQs on the International Emergency Economic Powers Act tariffs a question about limits on informal entry.
George Bogden, the executive director of CBP's Office of Trade Relations, is no longer employed at the agency, the administration said April 24.
CBP released a notice on the end of de minimis eligibility for products from China and Hong Kong beginning May 2, as outlined in an executive order issued earlier this month. The notice describes the new system of tariffs on carriers for postal shipments that will take effect on that date, as well as changes to the Harmonized Tariff Schedule to implement the changes.