The House Ways and Means Committee voted 37-3 to recommend a renewal of the African Growth and Opportunity Act through the end of 2028, with retroactive benefits since the program expired Sept. 30 (see 2512090051). Requests for liquidation or reliquidation would have to be filed within 180 days of enactment of the law, and CBP would have to pay within 90 days. No interest would be offered on the tariff refunds.
Former trade officials said the Trump administration's tariff policy in Asia is being tested by China’s concern over recently completed U.S. tariff arrangements with Malaysia and Cambodia, which could complicate the administration’s push to wrap up deals with Vietnam and Indonesia.
CBP recently created Harmonized System Update 2541 containing seven Automated Broker Interface records and three Harmonized Tariff Schedule records. HSU 2541 contains the updates pursuant to the recent Brazil IEEPA reciprocal executive order and the updates pursuant to the China IEEPA reciprocal executive order. The tariffs were issued by the president under the International Emergency Economic Powers Act, or IEEPA.
Goods entered using a Chapter 98 provision that avoids International Emergency Economic Powers Act tariffs must still list the otherwise applicable IEEPA Chapter 99 classification on the entry, CBP said in a Dec. 5 update to its FAQ on IEEPA tariffs. Otherwise, ACE will reject the submission, the agency said.
Specialty crop interests testifying at the first of three days of hearings on UMSCA Dec. 3 disagreed on whether duty-free access for Mexican imports should continue, and protectionists' arguments were echoed by Global Trade Watch.
Reductions of reciprocal tariffs on South Korea, as well as of Section 232 tariffs on South Korean lumber, will take retroactive effect Nov. 14 under a recently agreed trade deal, according to a notice released Dec. 3 by the Office of the U.S. Trade Representative and the Commerce Department.
Most tariff cuts under the recent U.S.-South Korea trade deal will take retroactive effect Nov. 14, with tariff cuts for autos and auto parts coming earlier on Nov. 1, as expected, said the U.S. Trade Representative in a notice released Dec. 3.
Thirty House Democrats joined the sponsor who introduced a bill last month to refund reciprocal tariffs paid by small businesses. Rep. Chris Pappas, D-N.H., publicized the bill Dec. 1. There is a Senate companion bill.
Commerce Secretary Howard Lutnick said that the U.S. will retroactively eliminate tariffs on airplane parts, lower auto and auto parts tariffs to 15% and "unstack" the reciprocal rate from most-favored nation duties so that 15% is an all-in number for South Korea, same as for Japan and the EU.
CBP recently created Harmonized System Update 2540, containing two Automated Broker Interface records and one Harmonized Tariff Schedule record. It includes updates pursuant to the recent executive order cutting reciprocal tariffs on agricultural goods.