COVID-19 Trade Impacts Resource Page
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Dozens of additional goods are being excluded from the Section 301 additional 25 percent tariff on List 3 goods from China. Importers of covered goods should act now to obtain refunds of any tariffs paid on such goods since Sept. 24, 2018.
Importers, exporters, and others have a new avenue for seeking relief from pending and future federal enforcement actions under an executive order signed May 19 by President Trump as part of an expanding effort to restore U.S. economic health in the wake of the COVID-19 pandemic.
U.S. importers anticipating significant downward adjustments in the price of their goods due to COVID-19 and other market disruptions may have a unique opportunity to achieve substantial duty savings.
Effective May 15, the Department of Labor’s Bureau of International Labor Affairs has amended its procedural guidelines for the development and maintenance of a list of foreign-made goods it has reason to believe are produced by child labor or forced labor in violation of international standards.
The U.S. has announced an unprecedented step that will further restrict exports to China’s Huawei Technologies Co. Ltd. and is warning of possible limitations on a temporary license allowing some exports to Huawei and its affiliates.
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.