The EU announced on April 10 that it has placed its planned counter-tariffs on hold for 90 days following President Donald Trump's April 9 decision to withdraw his reciprocal tariffs on most countries (see 2504090069).
Reps. Gregory Meeks, D-N.Y., Josh Gottheimer, D-N.J., Jeff Hurd, R-Colo., and Don Bacon, R-Neb., have introduced a bill that would require congressional approval for certain future tariff actions, matching legislation introduced by senators last week (see 2504030018).
The Trump administration's decision to pause most reciprocal tariffs on April 9 was a "well-planned move" and not a reaction to the bond market, National Economic Council director Kevin Hassett said in an interview with CNBC April 10.
President Donald Trump said that the 10% universal tariff rate that he imposed on April 2 is not necessarily permanent, depending on what other countries are willing to give the U.S. in return for removal.
Two members of the Blackfeet Nation tribe filed a lawsuit in the U.S. District Court for the District of Montana against various tariff actions by President Donald Trump, arguing that Trump's use of the International Emergency Economic Powers Act is an "unconstitutional exercise of congressional authority." The individuals, Montana state Sen. Susan Webber and rancher Jonathan St. Goddard, also claimed that Trump's tariff orders unconstitutionally deprived them of procedural due process and are "void for vagueness."
CBP has released its April 9 Customs Bulletin (Vol. 59, No. 15). It contains the following ruling actions:
CBP created Harmonized System Update 2515 on April 10, containing 88 Automated Broker Interface (ABI) records and 35 Harmonized Tariff Schedule records. HSU 2515 includes the reciprocal tariff updates, effective April 10.
The pause on higher country-specific reciprocal tariffs for all covered countries except China took effect just after midnight on April 10, CBP said in a CSMS message.
CHANDLER, Ariz. -- Should the de minimis exemption eventually disappear for low-value shipments, the business-to-business-to-consumer model could rise as a result, according to panelists at the National Customs Brokers & Forwarders Association of America annual conference.
The most unwavering defenders of President Donald Trump's "reciprocal tariffs" policy -- including House Ways and Means Committee Chairman Jason Smith, R-Mo. -- were a bit undercut during a four-hour hearing on the president's trade agenda, because Trump reacted to Treasury market volatility and backed down.