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The framework recognizes the potential of trade-related activities and infrastructure to be used for terrorist purposes and outlines further actions to prevent such outcomes.
Among other things, these regulations would implement CFIUS’s new jurisdiction over (a) certain non-controlling investments into certain U.S. businesses involved in critical technology, critical infrastructure, or sensitive personal data and (b) certain real estate transactions involving foreign persons.
Additional exclusions from the Section 301 additional 25 percent tariff on List 1, 2, and 3 goods from China have been announced by the Office of the U.S. Trade Representative. These exclusions cover a total of 437 specially prepared product descriptions that reflect 1,170 exclusion requests.
The U.S. and Japan are reportedly accelerating efforts to finalize a limited trade agreement in time for it to be signed later this month. President Trump has signaled that this initial deal will not need to be approved by Congress but that the two sides intend to work toward a more comprehensive agreement as well.
President Trump said Sept. 12 that he would be willing to consider an interim trade agreement with China, which could open the door for progress at bilateral talks scheduled for October. The president’s comments came as China announced that it plans to add pork and soybeans to a list of U.S. goods recently exempted from its retaliatory tariffs.
China announced this week the first exclusions from its additional 25 percent tariff on imports of U.S. goods. President Trump then delayed from Oct. 1 to Oct. 15 an increase from 25 to 30 percent in the Section 301 additional tariff on $250 billion worth of goods imported from China.
Democrats in the House of Representatives are holding firm to their position that several improvements are needed to the U.S.-Mexico-Canada Agreement before they would approve implementing legislation. The White House and others are beginning to call more frequently and loudly for Congress to approve the agreement updating the 25-year-old NAFTA, but a recent document from the House Ways and Means Committee states that “the ball is squarely in the Administration’s court.”
U.S. Customs and Border Protection is expecting to conduct this month a second test of the agency’s potential use of blockchain technology, focusing on intellectual property rights. Other tests are also in the works.
A new guidance document from the Bureau of Industry and Security designed to counter schemes to ship controlled items to nuclear- or missile-related activities in Pakistan highlights the due diligence measures that should be taken for all exports of goods subject to the Export Administration Regulations, particularly those destined for higher-risk destinations.
Importers should take this opportunity to review these requirements, ensure they have an FSVP in place for each food they import, and conduct mock FSVP inspections to prepare for possible FDA inspections.
Importers should be aware that while the COO claims made by their vendors may be correct under the source country’s rules, they may be incorrect under U.S. rules. With an ever-increasing tariff burden at stake, as well as potential penalties for getting it wrong, it is important for importers to understand the applicable rules and verify COO claims made by their suppliers.
Requests for exclusions from the additional tariff imposed on some $200 billion worth of imports from China (List 3 goods) may be submitted through Sept. 30. Any exclusions granted will be retroactive to Sept. 24, 2018, and remain in effect for one year from the date of publication of the exclusion determination in the Federal Register.
The Office of the U.S. Trade Representative is seeking input by Oct. 31 for its annual national trade estimate report on significant barriers to U.S. exports of goods and services and U.S. foreign direct investment.
Importers and others have until Sept. 20 to submit comments on the proposed increase from 25 percent to 30 percent of the additional tariff being imposed on $250 billion worth of imports from China. This increase is scheduled to take effect Oct. 1.
The Trump administration has indicated that another tariff increase on imports from China will be imposed with no flexibility for goods already in transit to the U.S.
Over the last month the Office of the U.S. Trade Representative has denied hundreds more requests for exclusions from the Section 301 additional tariffs on imports from China. USTR is continuing to review outstanding exclusion requests for List 1 and List 2 goods, imports of which are collectively worth about $50 billion, and has set a Sept. 30 deadline for requests for List 3 goods, which are worth about $200 billion.
President Trump announced Aug. 23 that he will further increase existing and pending tariffs on imports from China in response to Beijing’s move to raise its own tariffs on more than 5,000 additional goods from the U.S. The president also threatened to force U.S. companies to relocate operations out of China if bilateral trade relations worsen.
China has announced plans to increase tariffs on more than 5,000 additional goods imported from the U.S. if President Trump goes ahead with a 10 percent tariff hike on $300 billion worth of products from China. Press sources note that this move will result in nearly all Chinese imports from the U.S. being subject to higher tariffs.