COVID-19 Trade Impacts Resource Page
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Tariff Actions Resource Page
Visit our Tariff Actions Resource Page for information, deadlines and resource documents on the various U.S. tariff actions and the responses by the rest of the world.
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Companies importing goods from China may be eligible and can apply for retroactive refunds of Section 301 duties, but time is running short and the process is proving to be complicated and burdensome.
These exclusions are available for any product that meets the specified product description, regardless of whether the importer filed an exclusion request.
The U.S. should take steps to improve the effectiveness of the trade transparency units it has set up to combat trade-based money laundering, according to a new report from the Government Accountability Office.
The U.S. trade deficit in goods and services jumped 11.6 percent in March as trade volumes continued to plummet amid the COVID-19 pandemic. In addition, China did not top the list of trading partners with which the U.S. has a monthly trade deficit for the first time in many years.
Auto parts, furniture, household items, and bags are among the latest exclusions from the Section 301 additional 25 percent tariff on List 3 goods from China announced by the Office of the U.S. Trade Representative.
Utilizing CBP’s reconciliation program and ensuring that their related-party prices meet CBP’s requirements not only permit companies to take advantage of any retroactive transfer price adjustments by reducing previously declared dutiable values, thereby lowering duty liability, but they also help provide much needed liquidity.
Lawmakers and business groups are intensifying their calls for tariff relief in response to the COVID-19 pandemic, aided by a new International Trade Commission report.
An extension for up to 12 months of almost all the exclusions granted thus far from the Section 301 tariff on List 3 goods from China is under consideration by the Office of the U.S. Trade Representative. Comments may be submitted until June 8.
This is the first in ST&R’s series of articles examining these strategies in more detail and covers first sale valuation, a proven tool that can be used to not only mitigate the impact of tariffs at present but also lower costs well into the future.
China’s Ministry of Commerce has announced changes regarding exports of medical and non-medical supplies.
Enforcement measures under U.S. law or World Trade Organization rules may be taken against countries that fail to address U.S. concerns about the adequacy and effectiveness of their intellectual property rights protection and enforcement, the Office of the U.S. Trade Representative said in its most recent annual Special 301 report.
Exports to China, Russia, and certain other countries, particularly of goods in the high-technology, electronics, and telecommunications sectors, will be further restricted under new rules issued this week by the Bureau of Industry and Security.
Federal trade regulatory agencies have announced the following with regard to their operations in response to the COVID-19 pandemic.
Two major U.S. business groups are calling for tariff relief and other measures to help their members respond to and recover from the COVID-19 pandemic and the measures taken to minimize its impact.
Bags, hardware, engine parts, bicycles, and electronic items are among the latest exclusions from the Section 301 additional 25 percent tariff on List 3 goods from China announced by the Office of the U.S. Trade Representative.
The United States’ dependence on critical manufacturing and global value chains that rely on production based in China could prompt Congress to consider actions that lead to greater burdens on U.S. companies.
Federal trade regulatory agencies have recently announced the following with regard to their operations in response to the COVID-19 pandemic.
Importers of record suffering a significant financial hardship due to the COVID-19 pandemic may postpone for 90 days their deposit of certain estimated duties, taxes, and fees. However, there are significant limitations on eligibility for this deferral and a midnight April 20 deadline for associated adjustments to periodic monthly statements for April.
U.S. Customs and Border Protection is continuing to launch new Automated Commercial Environment reports, providing a wealth of information on imports, exports, and other customs activity that companies can use to boost duty savings efforts as well as compliance.
The COVID-19 pandemic is disrupting supply chains worldwide and causing economic and financial hardship on countries and companies alike. However, there are actions businesses involved in global trade can take to respond to this unprecedented situation.