A recent CBP ruling saying gold bars are subject to reciprocal tariffs has sent shock waves through the gold futures market this week, according to news reports.
A group of trade associations that includes restaurants, wine shops, domestic distillers and bottle providers asked the president to allow European wines and spirits to enter the U.S. duty-free, in the case of spirits, and under most-favored nation rates, for wines, rather than the 15% EU reciprocal tariff rate.
Global air cargo volumes grew 5% year-over-year in July as shippers may have sought to front load goods ahead of U.S. tariff deadlines or expedite shipping amid market uncertainties, said Xeneta, a Norway-based freight rate market analytics firm. The company thinks this means "more shippers opted for the speed of airfreight to help circumvent U.S. tariffs."
As importers seek to comply with the many tariffs that have been introduced or modified in recent months, they will need to be mindful of entry construction if their goods are eligible for duty drawback, according to Tim Vorderstrasse, a licensed customs broker with Flexport, speaking during his company's Aug. 6 webinar on tariffs.
A 40% tariff on transshipped goods could apply to goods that include third-country content above 30%, according to Commerce Secretary Howard Lutnick, speaking on Fox Business Aug. 7.
Importers of automobiles and auto parts are facing a massive increase in compliance standards as the Trump administration's tariffs on automobiles force importers to reevaluate supply chains to find competitive advantage, compliance experts said during an Aug. 6 webinar.
CBP improperly classified importer Air Distribution USA's shisha molasses, also known as "hookah tobacco," as a type of "smoking tobacco" and erroneously subjected the shisha molasses to federal excise taxes on "pipe tobacco," Air Distribution argued in a complaint last month at the Court of International Trade (Air Distribution USA v. United States, CIT # 25-00063).
CBP created Harmonized System Updates 2530 and 2531 on Aug. 5. HSU 2530 contains 404 Automated Broker Interface records and 135 Harmonized Tariff Schedule records. HSU 2531 contains four ABI records and two HTS records. HSU 2530 includes the additional duties on imports from Brazil effective Aug. 6, the reciprocal tariff updates effective Aug. 7, and miscellaneous tariff adjustments required by verification of the 2025 HTS. HSU 2531 includes an update to the countries of origin for the EU reciprocal tariffs.
President Donald Trump said in the Oval Office Aug. 6 that the U.S. will be imposing a tariff of "approximately 100%" on chips and semiconductors, "but if you're building in the United States of America, there is no charge."
On Aug. 27, Indian goods that are currently subject to reciprocal tariffs will be tariffed at an additional 25%, on top of the 25% reciprocal tariff set to take effect Aug. 7, the White House announced.