As CBP ramps up enforcement and seeks to ensure that importers' claims of first sale are valid, expect the agency to pay close attention to the documents of the middleman, said tax consultants with KPMG during an Oct. 27 presentation on first sale at the International Compliance Professionals Association's annual conference in Texas.
CBP released guidance on Section 232 import duties for medium- and heavy-duty trucks, medium- and heavy-duty truck parts, and buses via an Oct. 29 cargo systems message.
Increased U.S. scrutiny of Mexican truck drivers' English-speaking proficiency is raising concerns within the drayage industry that drivers who cross the U.S. border and perform drayage within a limited distance from the border will be prevented from doing their jobs.
The U.S. is dropping 10 percentage points of the 20% fentanyl tariff on China, and is also lifting port fees on Chinese commercial ships, after President Donald Trump and Chinese President Xi Jinping met in South Korea.
A majority of senators voted to end the emergency underpinning an additional 40% tariff on the majority of Brazilian goods, with four Republicans joining the entire Democratic caucus.
President Donald Trump, speaking to reporters on Air Force One as he flew in Asia, said he expects that the 20% tranche of tariffs on China, levied due to China's lack of action to crack down on fentanyl trafficking, will be lowered after he meets with President Xi Jinping in South Korea.
South Korea's government said it has agreed to the details of a trade deal that lowers tariffs on goods outside the Section 232 actions to 15%, all-inclusive, and applies that rate to autos manufactured in Korea, too.
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.
More Republicans will vote to roll back fentanyl tariffs on Canada, lead sponsor Sen. Tim Kaine predicted the evening of Oct. 28, ahead of a vote on the Brazil emergency underpinning additional 40% tariffs on the majority of Brazilian exports.
Treasury Secretary Scott Bessent said after two days of meeting with Chinese negotiators, he anticipates a threatened additional 100% tariff on Chinese goods won't come Nov. 1, and that the Chinese will defer their critical minerals export control licensing scheme.