The European Union, in a fact sheet released July 29, said that tariffs on EU exports to the U.S. will change from 10% plus the most-favored nation tariff to 15%, except for goods that have an MFN rate higher than 15%, and for aircraft and aircraft parts, certain generic drugs and natural resources. In the case of those exceptions, the standard MFN rates apply.
Treasury Secretary Scott Bessent told reporters in Stockholm, Sweden, that the Chinese delegation spoke too early when they said the two sides agreed to another 90 days at current tariff levels, because the president is the one to decide. However, in a later interview with CNBC, Bessent said the meetings had been "highly satisfactory."
The Commerce Department published notices in the Federal Register July 28 on the following antidumping and countervailing duty (AD/CVD) proceedings (any notices that announce changes to AD/CVD rates, scope, affected firms or effective dates will be detailed in another ITT article):
The Commerce Department has published the preliminary results of its antidumping duty administrative review on large diameter welded pipe from Turkey (A-489-833), calculating a zero percent AD rate for HDM Celik Boru Sanayi Ve Ticaret A.S., the one mandatory respondent, and applying that rate to another company not selected for individual review, Emek Boru Makine Sanayi ve Ticaret A.S. If the agency's finding is continued in the final results, importers of subject merchandise from HDM Celik and Emek Boru entered between May 1, 2023, and April 30, 2024, won't be assessed AD, and future entries from HDM Celik and Emek Boru wouldn't be subject to an AD cash deposit requirement until further notice.
The Commerce Department has published the final results of the countervailing duty administrative review on forged steel fluid end blocks from Germany (C-428-848). These final results will be used to set final assessments of CVD on importers of subject merchandise entered Jan. 1, 2023, through Dec. 31, 2023.
The Commerce Department has released the final results of the antidumping duty administrative review on softwood lumber products from Canada (A-122-857). These final results will be used to set final assessments of AD on importers for subject merchandise entered Jan. 1, 2023, through Dec. 31, 2023.
The FDA is seeking public comments on information collections related to the following forms:
The FDA's Office of Import Operations, which is affiliated with the FDA's Office of Inspections and Investigations, is making "important" changes to its Nationalized Entry Review Program on Aug. 4, saying the changes will "revolutionize import operations" by using a technology-driven approach that will streamline operations.
Although deals have not been announced with South Korea, Mexico or Canada -- some of the biggest trading partners for the U.S. -- U.S. Trade Representative Jamieson Greer told CNBC that, "we don't feel any pressure to have deals" ahead of Aug. 1, when tariffs are slated to go up on all countries that have goods trade deficits with the U.S."
Rep. Haley Stevens, D-Mich., introduced a bill last week that would grant the U.S. trade representative the authority to extend existing 100% tariffs on Chinese electric vehicles to autos produced by Chinese firms, no matter where they were assembled.