Tariffs promised by President-elect Donald Trump would result in increased prices for U.S. consumers, experts warned in an analysis of current trade flows and tariff rates.
Embossing and foil labeling operations don't constitute a use or materially change the goods, and such products are therefore eligible for unused merchandise drawback and in the same condition for the purpose of claiming drawback under USMCA, CBP determined in a recent ruling.
If incoming President Donald Trump imposes 25% tariffs on all Mexican and Canadian imports, it would be deeply disruptive to business in Texas, Arizona, Michigan and southeastern states with major auto manufacturing.
The former chief of staff to then-U.S. Trade Representative Robert Lighthizer has been chosen for USTR in Donald Trump's second administration.
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Customs brokers expressed concern about a 25% tariff on Mexico and Canada and a 10% additional tariff on China that President-elect Donald Trump announced in a Nov. 25 Truth Social post, citing uncertainties about how U.S. importers would be able to afford bond stacking and if they would be liable financially for the imports, among other issues.
As the leaders of some Canadian provinces have said their country should cut its own deal with the incoming Trump administration because Mexico hasn't aligned with the U.S. to keep Chinese electric vehicles out of its market, the new Mexican President Claudia Sheinbaum told reporters that it's nothing to worry about.
Trump transition team members may have already drafted an executive order hiking tariffs on Chinese imports, said Peterson Institute for International Economics fellow Mary Lovely, during a webinar moderated by former European commissioner and now PIIE fellow Cecilia Malmstrom.
In addition to tariff hikes expected in 2025, trade experts are also thinking about the 2026 review of USMCA, and the investment and supply chain planning uncertainty that is likely to follow.
The Commerce Department published notices in the Federal Register Nov. 12 on the following AD/CV duty proceedings (any notices that announce changes to AD/CV duty rates, scope, affected firms or effective dates will be detailed in another ITT article):