We have good news and bad news on the tariff front. We’ll start with the bad news. Increase in Section 232 Steel & Aluminum Tariff Last Friday, Trump announced his intentions to double the steel & aluminum tariffs from 25% to 50% starting this Wednesday, June 4, 2025. The White House has not yet published…
Trump finally announced today his plans for Reciprocal Tariffs. You can read the Executive Order as well as the Fact Sheet for details. The information below is based on our initial interpretation of the Executive Order. There may be corrections/additional clarification in the coming days. What is the Reciprocal Tariff Rate? 50 countries were given individually designated reciprocal tariff rate.…
The United States and China announced today an agreement for a 90 day adjustment of reciprocal tariffs. The details we know so far are as follows can be found on the White House published fact sheet. The key facts are: Effective date: Wednesday, May 14, 2025 The 90 day adjustment isn’t formally effective until Wednesday, May 14, 2025.…
The White House published additional details about the Reciprocal Tariffs. Annex I – Country Specific Reciprocal Tariff Rates During Trump’s White House conference introducing the Reciprocal Tariffs, his chart showed only 50 or so countries with specific Reciprocal Tariff rates. Annex I is a longer and more comprehensive list. Please review this list closely. Annex II – Products Exempted from the…
This is a strong warning when importing goods made out of aluminum extrusions or containing parts that are made from an aluminum extrusion process. Aluminum extrusions are found in a range of products ranging from furniture to camping goods to auto parts to electronics. Importers need to closely examine the construction of their products to…
CBP has finally published guidance on how to calculate tariffs on the non-chapter 73 and 76 derivative steel and aluminum articles under the expanded Section 232 tariff. It is important for importers to first verify if the product’s HTS classification is on the steel derivative list, the aluminum derivative list, or BOTH lists. If the Product HTS Classification…
Importers have been anxiously waiting for the Secretary of Commerce to officially announce in the Federal Register a date that the section 232 tariff will be assessed for non-chapter 73/76 derivative articles. Tonight, CBP published two CSMS messages that indicated that the steel and aluminum tariffs would be assessed on the non-chapter 73/76 derivative articles starting on Wednesday,…
There were a limited number of products subject to Section 301 China Tariff exclusions set to expire on May 31, 2024. The USTR decided to extend the exclusions for a limited number of products. Out of the 429 exclusions, only 164 were extended. Please see Annex C n the USTR publication. Note that ONLY products under Annex…
Back on May 28th of this year, the USTR announced potential increases to the Section 301 tariff for cartain products. After a four month commentary period, the USTR has made some modifications. Please read the most recent USTR publication carefully. 1.) The full list of items to received tariff increases is listed on Annex A (starts on…
On May 14, 2024, the USTR released its report summarizing the four-year review of the Section 301 tariff actions taken on imports from China. Following the release of the report, the USTR announced two proposed modifications to the Section 301 China Tariffs. 1.) Increasing the Section 301 tariff in a few key sectors: Battery parts (non-lithium-ion…