As U.S. importers navigate the global trade landscape and all its unpredictability, companies should consider creating and adopting a standard operating procedure that addresses all the compliance and transport hiccups that might arise, according to a Nov. 13 webinar, "Beyond Tariffs and Turbulence," which sought to address import compliance issues related to airfreight.
The Trump administration is hindering its stated objectives by holding the USMCA trade agreement hostage and trying to reshape the agreement during the review process, according to experts speaking at a Washington International Trade Association event.
President Donald Trump may look to ramp up his use of sections 232 and 301 should the Supreme Court rule that the International Emergency Economic Powers Act can't be used for levying tariffs, various lawyers told us. However, the expanded use of these statutes, both as they are being used now and how they may be used to supplant the existing reciprocal and fentanyl trafficking tariffs, may encounter legal difficulties.
President Donald Trump issued an executive order late Nov. 14 exempting many agricultural products, including food, from all reciprocal tariffs. The executive order said the new tariff exemptions took effect at 12:01 a.m. Nov. 13.
President Donald Trump issued an executive order late Nov. 14 exempting many agricultural products from all reciprocal tariffs. The executive order said the new tariff exemptions took effect at 12:01 a.m. Nov. 13.
The U.S. will lower its reciprocal tariffs on Switzerland to “a maximum of 15%” under a tariff deal announced by the Swiss government Nov. 14. As part of the deal, Switzerland will reduce its tariffs on “a range of U.S. products,” including industrial and agricultural products, and its companies “are planning to make direct investments in the USA amounting to” $200 billion by the end of 2028.
Trade talks with Taiwan have "made a lot of advances," according to a senior administration official, speaking on background with a group of reporters Nov. 13. He had been announcing frameworks with El Salvador, Guatemala, Ecuador and Argentina, and was asked about which countries might come next.
DOJ has increasingly relied on an undervaluation theory for trade enforcement cases brought under the False Claims Act in its increased attempt to police trade fraud and may be looking to include "corporate integrity agreements" as part of trade-related FCA settlements, attorneys at Faegre Drinker said during a Nov. 13 webinar that focused on increased trade enforcement.
CBP has been liquidating entries related to the International Emergency Economic Powers Act tariffs faster than the typical 314-day cycle, so importers should monitor and track those entries that they plan to file protests on, a trade attorney suggested in a note to clients this week.
Should the Supreme Court rule that the tariffs administered under the International Emergency Economic Powers Act are not valid, importers of record, who could potentially receive duty refunds, may also end up in legal battles with others who shared in the importer's tariff burden, founding member and principal of Sandler and Travis said during Flexport's Nov. 12 webinar on tariff trends.