CBP released guidance on Section 232 import duties for medium- and heavy-duty trucks, medium- and heavy-duty truck parts, and buses via an Oct. 29 cargo systems message.
The U.S. is dropping 10 percentage points of the 20% fentanyl tariff on China, and is also lifting port fees on Chinese commercial ships, after President Donald Trump and Chinese President Xi Jinping met in South Korea.
President Donald Trump, after talking with Chinese President Xi Jinping in Korea, told reporters that he will be lowering tariffs on Chinese goods by 10%, because China is going to crack down on fentanyl trafficking. A reporter on Air Force One asked about the fees that Chinese ships must pay when they arrive at U.S. ports, and U.S. Trade Representative Jamieson Greer said those fees will be postponed while the two sides negotiate over what the U.S. calls market-distorting subsidies in the shipbuilding sector. In the 100-minute meeting, China also said it would delay an export licensing scheme for rare earth materials.
Sens. Catherine Cortez Masto, D-Nev., and Rand Paul, R-Ky., introduced a bill Oct. 29 to repeal reciprocal tariffs that apply to coffee imports.
In a hearing on the nominations for the chief agricultural negotiator and the deputy U.S. trade representative responsible for Africa, the Western Hemisphere and Europe, senators from both parties criticized the decision to import Argentinian beef and complained about foreign non-tariff barriers in agriculture.
President Donald Trump declined to put a new date on when immigration/fentanyl tariffs of 25% on Mexico would go up to 30%. Back on July 31, he said they would keep tariffs at the same rate through Oct. 29, as the two sides spoke about Mexico ending its non-tariff trade barriers.
A majority of senators voted to end the emergency underpinning an additional 40% tariff on the majority of Brazilian goods, with four Republicans joining the entire Democratic caucus.
President Donald Trump, speaking to reporters on Air Force One as he flew in Asia, said he expects that the 20% tranche of tariffs on China, levied due to China's lack of action to crack down on fentanyl trafficking, will be lowered after he meets with President Xi Jinping in South Korea.
South Korea's government said it has agreed to the details of a trade deal that lowers tariffs on goods outside the Section 232 actions to 15%, all-inclusive, and applies that rate to autos manufactured in Korea, too.
House Ways and Means Committee Chairman Rep. Jason Smith, R-Mo., cheered the trade deals that leave 19% tariffs in place on Cambodian and Malaysian goods, while those countries lower their tariffs.