Mexico is extending increased duties on a range of textiles, apparel and footwear products through 2024, the Hong Kong Trade Development Council said in an Oct. 31 report. Mexico is imposing a 25 percent duty on 274 apparel and made-up textile tariff lines and a 25 percent or 30 percent duty on footwear tariff lines through Sept. 30, 2021, the report said. Those duties are scheduled to fall to 20 percent on Oct. 1, 2024.
Business and labor leaders and government insider panelists agreed that the U.S.-China trade war will be difficult to unravel, but disagreed on how quickly Democrats could -- or should -- resolve outstanding issues on the NAFTA rewrite. The trade panel Oct. 10, hosted by Fiscal Note, included Clete Willems, former White House deputy assistant to the president for international economics, who said that although it pained him to say it, "The political conditions in both countries are just not conducive to the big deal."
Business and labor leaders and government insider panelists agreed that the U.S.-China trade war will be difficult to unravel, but disagreed on how quickly Democrats could -- or should -- resolve outstanding issues on the NAFTA rewrite. The trade panel Oct. 10, hosted by Fiscal Note, included Clete Willems, former White House deputy assistant to the president for international economics, who said that although it pained him to say it, "The political conditions in both countries are just not conducive to the big deal."
In the Sept. 25 Customs Bulletin (Vol. 53, No. 34), CBP published notices that propose to revoke or modify rulings and similar treatment for headboards, footboards and side rails imported in separate shipments, and steel tubing.
Mexico did not live up to its promise to open its market to U.S.-grown potatoes, says Rep. Scott Tipton, R-Colo., who announced Sept. 27 that he's asked Agriculture Secretary Sonny Perdue to do something about it. Tipton's letter dated Sept. 25 mentions that the House is negotiating with the administration on the ratification of the NAFTA rewrite, but does not say he will tie his vote to the potato issue.
Mexico did not live up to its promise to open its market to U.S.-grown potatoes, says Rep. Scott Tipton, R-Colo., who announced Sept. 27 that he's asked Agriculture Secretary Sonny Perdue to do something about it. Tipton's letter dated Sept. 25 mentions that the House is negotiating with the administration on the ratification of the NAFTA rewrite, but does not say he will tie his vote to the potato issue.
While U.S. authorities have not released any details on U.S. tariff reductions for Japanese imports, even to stakeholders, a press release from Japan's Economy, Ministry and Industry describes the reductions, which will add up to tens of millions of dollars annually.
Mexico is increasing tariffs and creating new tariff schedule provisions for iron and steel products, according to a notice in the Sept. 20 Diario Oficial. The country is creating 82 new tariff subheadings to identify different types of iron and steel, modifying 25 subheadings and eliminating 21, all to improve monitoring required under the agreement to end U.S. Section 232 tariffs on Mexico. Mexico is also increasing tariffs to 15 percent for more than 200 subheadings covering iron and steel products that were previously dutiable at 3 percent to 5 percent, and is modifying the text of 22 other subheadings and increasing the applicable tariff rate to 15 percent, said a Mexican Confederation of Customs Broker Associations (CAAAREM) circular posted by the consultancy AJR Mexico. Rates will be decreased every two years by 5 percent, so duties on these subheadings will fall to 10 percent in 2021 and to 5 percent in 2023 before being eliminated entirely in 2024. Mexico is also increasing tariffs on other tariff subheadings for iron and steel products, and adding iron and steel products to maquiladora and sectoral promotion programs. The changes took effect Sept. 22.
While U.S. authorities have not released any details on U.S. tariff reductions for Japanese imports, even to stakeholders, a press release from Japan's Economy, Ministry and Industry describes the reductions, which will add up to tens of millions of dollars annually.
The planned U.S. and Chinese tariff increases are expected to go forward as scheduled and escalation will continue "until both sides feel enough economic, market and/or political pain to strike a deal," said Bank of America Merrill Lynch global economists Ethan Harris and Aditya Bhave in a Sept. 3 research report. "The recent escalation has opened an almost insurmountable gap in terms of numbers and trust," the economists said. "The only real question is whether the Trump Administration takes the politically dangerous step of imposing tariffs on headline consumer products in December. We think they give it a go: given the supply chain lags it will mainly impact consumer prices after the holidays. All told we expect US tariffs against China to increase from about $63bn in August to more than $115bn by yearend, with Chinese tariffs on US products rising from $20bn to $25bn."