Countries where the U.S. has a significant trade deficit could be potential targets for future U.S. tariffs, according to panelists speaking during a Jan. 29 customs market update sponsored by Expeditors.
Trump Says Tariffs Will Be Hiked on Oil Next Month and Steel, Aluminum Tariffs Going Higher; EU Next
President Donald Trump told reporters that his administration plans to put tariffs on oil and gas, and on items related to semiconductor chips and pharmaceuticals, and he gave more details about previously threatened tariffs on steel, aluminum and copper.
President Donald Trump told reporters that there are no concessions Mexico, Canada or China could make to avoid tariffs on Feb. 1, which he wants to use to punish them for trade deficits, fentanyl trafficking, and, in the case of Canada and Mexico, migration across their borders.
Importers should be prepared for uncertainty when it comes to the specifics on tariffs and have plans in place to adjust supply chains and tariff classifications accordingly, lawyers said in webinars by Deringer on Jan. 29 and Barnes & Thornburg on Jan. 30.
President Donald Trump, in response to a question from a reporter at the White House, said 25% tariffs on Canada and Mexico are coming on Feb. 1, on Saturday.
The following are short summaries of recent CBP NY rulings issued by the agency's National Commodity Specialist Division in New York:
Commerce secretary nominee Howard Lutnick vigorously defended the prospect of imposing tariffs on all goods from places like the EU, Japan or South Korea during his confirmation hearing Jan. 29, saying those countries deserve it, as they either use food safety rules to protect their farmers, put up barriers to American car imports, or undercut American manufacturing with their exports of manufactured goods.
Momentum is building for President Donald Trump to levy 25% tariffs on Mexico and Canada on Feb. 1 even though his administration has yet to engage in meaningful trade talks with both countries, a Jan. 26 Wall Street Journal report suggests.
The following lawsuits were filed at the Court of International Trade during the week of Jan. 20-26:
The following are short summaries of recent CBP NY rulings issued by the agency's National Commodity Specialist Division in New York: