We’ve posted warnings the past half year about the global supply chain steadily becoming more congested and the cost of shipping rising accordingly. In the past few months, more articles have published about shortages in everything from boba balls to garden gnomes. We highly recommend everyone to watch the video that the Wall Street Journal published a few…
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 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,…
The International Longshoremen’s Association (ILA) and the United States Maritime Alliance have reached a tentative agreement. The key point is that both sides have a tentative agreement on a wage increase. The port strike is suspended. The longshoremen will be returning back to work. Note that the agreement extends the current contract until January 15, 2025, giving the two…