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Textile and apparel companies are dusting off old tools to deal with new challenges in the global marketplace. The Sandler, Travis & Rosenberg Trade Analysis Program (ST&R-TAP™) offers an affordable suite of such tools, combining the firm’s decades of experience in this sector with in-depth analysis of the latest trade data.
U.S. tariff increases have resulted in a substantial decline in imports from China and a corresponding increase in shipments from the European Union, Mexico, Taiwan, and Vietnam, according to a new report from the United Nations Conference on Trade and Development. The report also finds that the tariffs are hurting the U.S. in the form of higher consumer prices.
China is reportedly pushing harder to roll back U.S. tariffs on its goods as part of the “phase 1” bilateral trade agreement the two sides are currently negotiating. In the meantime, a new World Trade Organization ruling could give Beijing further leverage in the talks.
Footwear importers have until Nov. 15 to file comments in opposition to U.S. Customs and Border Protection’s proposal to change its treatment of textile upper footwear that has been classified as “non-athletic” because the uppers are embroidered or decorated with sequins. Under this proposal the duty rate on such footwear would jump from 9 percent to 20 percent.
The Office of the U.S. Trade Representative reports that a World Trade Organization dispute panel has agreed that India provides prohibited export subsidies worth more than $7 billion annually to Indian producers of steel products, pharmaceuticals, chemicals, information technology products, textiles, and apparel.
U.S. officials said this week they are still hoping to sign the first phase of a trade agreement with China in November. In the meantime the two sides are continuing to negotiate on the provisions that will be included in the agreement.
The Bureau of Industry and Security may have allowed improper influence in its consideration of requests for exclusions from the Section 232 additional tariffs on steel and aluminum products, according to an Oct. 28 alert from the Commerce Department’s inspector general. The alert comes as Rep. Jackie Walorski, R-Ind., continues to raise similar concerns.
An extension for up to 12 months of the first exclusions from the Section 301 additional tariff imposed on List 1 goods from China is under consideration by the Office of the U.S. Trade Representative. Comments may be submitted between Nov. 1 and Nov. 30.
An Oct. 25 presidential proclamation is making the following changes to the Generalized System of Preferences following regular eligibility reviews, product reviews, and beneficiary developing country assessments. The proclamation also designates Mali as a lesser-developed beneficiary country under the African Growth and Opportunity Act.
Additional exclusions from the Section 301 additional 25 percent tariff on List 3 goods from China have been announced by the Office of the U.S. Trade Representative.
President Trump announced Oct. 23 the lifting of the economic and trade sanctions he imposed nine days earlier against Turkey. However, he also said the U.S. reserves the right to “reimpose crippling sanctions” against Turkey, including “substantially increased tariffs on steel and all other products coming out of Turkey,” if it does not meet certain obligations, including the protection of religious and ethnic minorities.
The Office of the U.S. Trade Representative has completed its processing of requests for exclusions from the Section 301 additional tariff on imports of List 1 and List 2 goods from China. USTR is continuing to review exclusion requests for List 3 goods and recently announced a process for submitting exclusion requests for List 4A goods.
U.S. importers, exporters, and manufacturers are continuing to look for ways to mitigate the impact of the additional tariffs the U.S. has levied on hundreds of billions of dollars’ worth of imported goods, including steel and aluminum from most global sources and thousands of products from China, as well as the retaliatory tariffs U.S. trading partners are imposing on U.S. exports. Despite ongoing policy changes, there are a number of proven and legitimate ways to avoid or reduce these duties. This article provides an update on several strategies companies can use in structuring their own trade deals.
Requests for exclusions from the 15 percent additional tariff on List 4A imports from China may be submitted between Oct. 31, 2019 and Jan. 31, 2020. Any exclusions granted will be effective for one year, starting from the Sept. 1, 2019, effective date of the List 4A tariff.
House Ways and Means Committee Chairman Richard Neal (D-MA) received a letter Oct. 17 from Mexican President Andrés Manuel López Obrador that lays out the steps Mexico is taking to implement a number of labor reforms as part of efforts to pave the way for the implementation of the United States-Mexico-Canada Agreement.
USTR is making various technical changes in order to implement on Oct. 18 the previously announced additional tariffs of 25 percent on more than 150 goods imported from EU countries, as well as an additional 10 percent tariff on new aircraft from France, Germany, Spain, and the UK.
The U.S. increased its trade enforcement activities and saw higher trade values in 2018, according to the International Trade Commission’s annual review of trade-related activities.
President Trump announced Oct. 14 several trade-related actions against Turkey in response to a military offensive it recently launched into Syria. Press reports indicate that Congress is moving toward imposing even stricter sanctions.
Tariffs on $250 billion worth of imports from China will not be increased to 30 percent on Oct. 15 after the U.S. and China announced an agreement in principle on the first phase of a broad trade agreement. However, the agreement has no other effect on the additional tariffs the U.S. has in place on nearly $400 billion worth of Chinese goods, which currently range from 15 percent to 25 percent.
Oct. 14 is the deadline to submit comments to U.S. Customs and Border Protection on a proposal to require customs brokers to collect certain information from importers (including non-resident importers) to enable the customs brokers to verify the identity of the importers.