CBP issued the following releases on commercial trade and related matters:
Once the U.S.-Japan deal is put to paper, Japanese goods will be subject to a flat 15% tariff, as long as the most-favored nation tariff that applies is at that rate or lower. For goods above 15% MFN, just the typical duty will apply, with no additional reciprocal tariff.
A recent CBP ruling saying gold bars are subject to reciprocal tariffs has sent shock waves through the gold futures market this week, according to news reports.
A group of trade associations that includes restaurants, wine shops, domestic distillers and bottle providers asked the president to allow European wines and spirits to enter the U.S. duty-free, in the case of spirits, and under most-favored nation rates, for wines, rather than the 15% EU reciprocal tariff rate.
Global air cargo volumes grew 5% year-over-year in July as shippers may have sought to front load goods ahead of U.S. tariff deadlines or expedite shipping amid market uncertainties, said Xeneta, a Norway-based freight rate market analytics firm. The company thinks this means "more shippers opted for the speed of airfreight to help circumvent U.S. tariffs."
The International Trade Commission published notices in the Aug. 7 Federal Register on the following antidumping and countervailing duty (AD/CVD) injury, Section 337 patent or other trade proceedings (any notices that warrant a more detailed summary will be in another ITT article):
The International Trade Commission began a Section 337 investigation on allegations that Natus Medical Inc. and its subsidiary Excel-Tech Ltd. are importing and selling wearable electroencephalogram devices that infringe patents held by Ceribell Inc. (ITC Inv. No. 337-TA-1458), it said in an Aug. 6 fact sheet.
The Commerce Department has released the preliminary results of its antidumping duty administrative review on carbon and alloy steel threaded rod from India (A-533-887). In the final results of this review, Commerce may set assessment rates for subject merchandise entered April 1, 2023, through March 31, 2024, from the sole mandatory respondent in this review.
The Commerce Department has released the preliminary results of a countervailing duty administrative review of aluminum foil from China (C-570-054). This review covers subject merchandise from the exporters under review entered during the period Jan. 1, 2023, through Dec. 31, 2023.
The Commerce Department has released the preliminary results of its antidumping duty administrative review on common alloy aluminum foil from China (A-570-053). In the final results of this review, Commerce will set AD assessment rates for subject merchandise for the companies under review entered April 1, 2023, through March 31, 2024.