A memorandum of understanding may serve as a bona fide order if an instrument was imported under the Florence Agreement, CBP said in a recent ruling that overturned a previous CBP decision.
President Donald Trump, in a lengthy pep-talk to House Republicans about how to win the midterms, said that his threats of tariffs caused drug companies to lower prices in the U.S., as European countries agreed to pay more for the same medicines.
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A prominent political risk advisory firm says that peak tariff disruption is over, and that 2026 will bring some tariff reductions, but also continued uncertainty in several trade areas.
Sen. Lindsey Graham of South Carolina, the lead Republican in the Senate pushing for higher tariffs on countries that buy Russian oil, talked up his bill to reporters on Air Force One as he and the president flew back from Palm Beach, Florida. President Donald Trump said, "We talk a lot about legislation, and we have great legislation coming, you want to tell them?"
CBP has released its Dec. 31 Customs Bulletin (Vol. 59, No. 49), which includes the following ruling actions:
In the Dec. 31 Customs Bulletin (Vol. 59, No. 49), CBP published proposals to revoke a ruling letter relating to the tariff classification of a combination automotive fuel pump and fuel level sensor.
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The 25% tariffs on upholstered furniture, and wooden cabinets and vanities will continue throughout 2026, instead of increasing to 30% for furniture and 50% for cabinets and vanities, as initially indicated in September (see 2509300017).
CBP on Dec. 30 created Harmonized System Update 2543 containing 4,893 Automated Broker Interface records and 872 Harmonized Tariff Schedule records. HSU 2543 includes the end-of-year Harmonized Tariff Schedule updates, effective Jan. 1.