Elevated import volumes at major U.S. ports could persist through this spring "amid continuing tariff turmoil" before volumes face potential year-over-year drops over the summer, according to the National Retail Federation and Hackett Associates.
The United States is interested in negotiating a new free trade agreement with India, Commerce Secretary Howard Lutnick told an Indian audience on March 8.
Two pro-trade Democrats on the House Ways and Means Committee reintroduced a bill that would restrict the president's ability to use Section 232 to impose tariffs without Congress' consent. Four other House Democrats are co-sponsoring the bill.
CBP has released its March 5 Customs Bulletin (Vol. 59, No. 10), which includes a ruling action involving the revocation of one ruling letter and revocation of treatment relating to the tariff classification of women's pants. Also included are two Court of International Trade slip opinions.
CBP updated Harmonized System Update 2509 created on March 7 (see 2503070015). The update says that as of March 7, the temporary exclusion from the additional ad valorem IEEPA duties in place for in-transit shipments ended. Consequently, HTS 9903.01.23 is no longer available for merchandise entered for consumption, or withdrawn from warehouse for consumption, after 12:01 a.m. EST on March 7. All shipments that are country of origin China and Hong Kong are required to submit the 9903.01.24 tariff as well as remit payment of the additional 20% duty, unless the shipment meets the other exclusions (donation, information materials, Chapter 98).
CBP provided guidance on the 25% import duty for all imports of steel articles and derivative steel articles from all countries via a March 7 cargo systems message. This import duty is effective on 12:01 a.m. EDT on March 12 (see 2503030054).
CBP provided guidance on the 25% import duty for all imports of aluminum articles and derivative aluminum articles from all countries via a March 7 cargo systems message. This import duty is effective on 12:01 a.m. on March 12 (see 2503030054).
Commerce Secretary Howard Lutnick said the tariffs that the president threatened over Canadian trade policies for dairy and lumber won't come this week, as the president had said two days earlier.
Canadians and New Englanders, brought together by the New England-Canada Business Council, expressed bewilderment at the trade war directed at Canada, but said that President Donald Trump's actions will not be easily overcome as the two countries start to talk about how to change the NAFTA successor agreement in its sunset review.
President Donald Trump said on social media he is "strongly considering large-scale" sanctions and tariffs on Russia "until a Cease Fire and FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED."