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.
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 the Office of the U.S. Trade Representative.
The National Marine Fisheries Service still expects Jan. 1 to be the start date for the agency requiring certifications of admissibility (COA) from companies importing fish and fish products from certain countries that may have U.S.-imposed import restrictions, officials said on a Dec. 16 webinar on the issue.
The U.S. ambassador to the World Trade Organization published a blunt response to reform discussions, arguing that the underpinning of the WTO -- that all countries should receive the same tariff rate, unless there is a comprehensive free-trade agreement between them -- was naive, "and that era has passed."