A bipartisan bill to increase financial pressure on Russia to stop its aggression in Ukraine no longer gives the president the authority to hike tariffs on countries like Turkey, China and Hungary that purchase Russian oil and gas. The original approach was to give the president the ability to impose tariffs as high as 500% on those countries' exports; he has hiked tariffs on Indian goods by 25 percentage points over the issue.
Ceratizit USA, a North Carolina-based tungsten carbide distributor, agreed to pay $54.4 million to settle allegations it violated the False Claims Act by "knowingly and improperly failing to pay duties owed on tungsten carbide products" from China, DOJ announced.
The EU is aiming to expand the scope of its upcoming carbon border tariff to apply to 180 steel and "aluminium-intensive" products produced downstream.
Rep. Tim Burchett, R-Tenn., introduced the Trump Tariff Rebate Act, saying that due to additional tariff revenue, the U.S. can afford to increase the standard deduction by $4,000 for joint filers, $3,000 for heads of household and $2,000 for individuals.
As importers everywhere await the Supreme Court's final decision on the fate of tariffs imposed under the International Emergency Economic Powers Act, more and more attorneys are counseling their clients to file preemptive lawsuits at the Court of International Trade to guarantee their right to a refund of the IEEPA tariffs.
Democrats said they are going to be bringing up the high cost of living over and over again, and tariffs are a big part of their argument that Republicans are not tackling the problem.
The Supreme Court will most likely decide the lead case on the legality of tariffs imposed under the International Emergency Economic Powers Act after the high court went on its four-week holiday recess. The court held its last conference day of the year on Dec. 12 and won't reconvene until Jan. 9, when it will hold both a conference day and a non-argument session, according to the court's calendar.
CBP released a spreadsheet intended to help importers and customs brokers determine which current tariffs may apply concurrently to the same product. A link to the new spreadsheet was included in an update Dec. 17 to the agency’s FAQ on International Emergency Economic Powers Act tariffs.
Senate Finance Committee Chairman Mike Crapo, R-Idaho, heartily endorsed the House Republicans' approach to renewing Haitian trade preferences and the African Growth and Opportunity Act.
Cuts to reciprocal tariffs under a recent trade deal with Switzerland and Liechtenstein will take retroactive effect Nov. 14, according to a notice from the Commerce Department and U.S. Trade Representative.