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In the News: Tariffs, Importer Verification Rule, India Import Curbs

Thursday, October 17, 2019
Sandler, Travis & Rosenberg Trade Report

China ties agriculture binge to Trump reducing U.S. tariffs

“China will struggle to buy $50 billion of U.S. farm goods annually unless it removes retaliatory tariffs on American products, and doing so would require reciprocal action by President Donald Trump, people familiar with the matter said.”

[Bloomberg]

WTO formally backs U.S. tariffs on EU goods

“In the absence of a last-minute negotiated settlement between Washington and Brussels, the tariffs will kick in on a medley of products that range from Scotch whisky to French wine, Spanish olives and Italian cheese.”

[CNBC]

Customs brokers outline burdens of importer verification rule

“The proposed rule anticipates CBP penalties of up to $10,000 per client or revocation or suspension of a customs broker’s license or permit in cases in which the broker fails to meet information collection requirements.”

[American Shipper]

India identifies hundreds of products for possible import curbs

“The government has identified hundreds of products including electronics, toys, blankets and several daily-use items for possible ‘import substitution’ by discouraging their shipments into the country. … The strategy to check imports could be multi-fold, including an increase in import duty to prod global players to set up shop in India and provide protection to domestic industry that may be currently manufacturing it.”

[Economic Times]

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