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.
As companies navigate the increasingly complex U.S. trade landscape, companies should "shift left" and adjust their trade compliance strategies so that potential compliance issues are caught upstream in areas such as sales, procurement and development before hitting the duty filing stage, a software developer said at the International Compliance Professionals Association conference in Grapevine, Texas, on Oct. 27.
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.
The following lawsuits were filed at the Court of International Trade during the weeks of Oct. 13-19 and 20-26:
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
More Republicans will vote to roll back fentanyl tariffs on Canada, lead sponsor Sen. Tim Kaine predicted the evening of Oct. 28, ahead of a vote on the Brazil emergency underpinning additional 40% tariffs on the majority of Brazilian exports.
Treasury Secretary Scott Bessent said there's no hang-up preventing the South Korean trade framework from moving to a signed deal, "just a lot of details to work out. It's a very complicated deal, and I think we're very close." However, he told reporters on Air Force One on Oct. 27 that he didn't think it would be done by Oct. 29, when the president lands in Korea.
President Donald Trump signed trade deals with Cambodia and Malaysia, leaving 19% tariffs on both Cambodian and Malaysian goods, with some carve-outs for tropical fruits and woods, minerals, and some goods covered by pending Section 232 investigations, such as aviation parts and chemicals used to make pharmaceuticals. The 19% tariffs layer on top of most-favored nation rates, which, in the case of apparel and shoes that dominate Cambodia's top exports, are already quite high.
Ten Democrats, including the ranking member on the Senate Finance Committee, told Commerce Secretary Howard Lutnick that they are questioning the legitimacy of tariffs on national security grounds against cars, household appliances and kitchen cabinets.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.