The chairman of the House Ways and Means Subcommittee on Trade said Nov. 8 that he’s “hopeful that there [are] some things we can do” on trade when Congress returns to Washington this month for its lame-duck session.
Customs duty
A customs duty is a tariff or tax which a country imposes on goods when they are transported across international borders. Customs Duties are used to protect countries' economies, residents, jobs, and environments, by limiting the flow of imported merchandise, especially restricted and prohibited goods, into the country. The Customs duty rate is a percentage determined by the value of the article purchased in the foreign country and not based on quality, size, or weight. U.S. customs duties are listed in the Harmonized Tariff Schedule of the United States.
LIVONIA, Michigan -- The consuls general of Mexico and Canada in Detroit encouraged auto industry players to lobby the next administration, to let it know that tariffs on Canadian and Mexican goods would be disruptive to the integrated auto industry, and to push for the administration to comply with a panel ruling on auto rules of origin.
President-elect Donald Trump's love of tariffs was the through line of his campaigns and his first administration, but a consultant and a think tank scholar say that how exactly he will hike duties next year -- on what products, from which countries and how high -- are unknowable.
The Court of International Trade rejected importer Retractable Technologies' bids for a temporary restraining order and preliminary injunction stopping the collection of Section 301 duties on its needles and syringes. However, in a decision made public Nov. 4, Judge Claire Kelly did stop liquidation of Retractable's entries during the course of the company's suit, which challenges the legality of a Section 301 rate hike on needles and syringes.
Watches that have case backs set with watch glass made of nonprecious materials -- such as synthetic sapphire -- are not considered to have cases made "wholly" of precious metal and are classified differently than watches that do, the Court of International Trade ruled Nov. 1. The holding came as a watch importer’s motion for judgment in a 2018 case wound up being denied, and the government’s was granted, by CIT Judge Jane Restani.
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The Court of International Trade in a decision made public Oct. 23 sustained the Commerce Department's rejection of eight Section 232 steel tariff exclusion requests from importer Seneca Foods Corp. on its tin mill product entries. Judge Gary Katzmann said the rejections were backed by substantial evidence and in line with agency practice.
Domestic steel producer Zekelman Industries filed a lawsuit on Oct. 21 in a Washington, D.C., federal court alleging that the Mexican government breached its 2019 agreement with the U.S. to slow imports of Mexican steel products. The company argued that Mexico's breach of the deal "has devastated the U.S. steel industry," forcing the company to close two plants due to the oversupply of cheap steel (Zekelman Industries v. United States, D.D.C. # 24-02992).
Predictions of inflation and lost exports if Republican presidential nominee Donald Trump re-wins the White House and imposes global tariffs are well-trod ground.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.