Center for a New American Security Senior Fellow Emily Kilcrease asked Rep. Ami Bera, D-Calif., co-sponsor of a bill asking the Biden administration to come up with a strategy to counter China's economic coercion, (see 2110180036), how he'd like to see the U.S. respond to economic coercion from China. Should we hike tariffs? Offer direct assistance to affected companies? Make a statement?
U.S. Trade Representative Katherine Tai, in a year-end video, pointed to a number of settlements during 2021 that both bolstered America's relationships with its allies and promoted the fight against climate change. She pointed to the settlement of a Section 337 case between two South Korean battery makers that allowed for a Georgia plant to open (see 2104120004); the settlement of the 17-year dispute over subsidies to Airbus and Boeing (see 2106150021 and 2106170025); and the agreement between the European Union and the U.S. to replace Section 232 tariffs with a quota system (see 2111010039).
The International Trade Commission posted the 2022 Preliminary Edition of the Harmonized Tariff Schedule. The new HTS does not include the five-year World Customs Organization Harmonized System update, which will take effect toward the end of January at the end of a 30-day period following their proclamation Dec. 27 (see 2112270032). It does, however, implement annual changes to 10-digit "statistical" provisions of the tariff schedule, as well as the removal of Ethiopia, Mali and Guinea from the African Growth and Opportunity Act preferences program and a new tariff-rate quota system for iron and steel and aluminum from the EU. These changes took effect Jan. 1.
International Trade Today is providing readers with the top 20 stories published in 2021 in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference numbers.
CBP created Harmonized System Update (HSU) 2119 Dec. 28, containing 284 ABI records and 71 Harmonized Tariff Schedule records, it said in a CSMS message. The update implements a tariff-rate quota for steel and aluminum products from the European Union as part of an agreement to remove Section 232 tariffs on goods from the EU (see 2112280036 and 2112290029). CBP said it also created HSU 2118 Dec. 27, with 140 ABI records and 70 HTS records. The update "was created to rectify Harmonized System Update (HSU) 2116 and 2117," CBP said in a CSMS message Dec. 28 (see 2112280039).
New tariff-rate quotas on EU aluminum and steel agreed to in lieu of Section 232 tariffs will open Jan. 3 at 12:01 a.m., CBP said in a pair of quota bulletins Dec. 29. Entries submitted prior to 8:30 a.m. EST on that date will be counted “in the first opening” at 8:30, with entries being prorated if totals for any tariff number grouping exceed the limit. Entries submitted prior to 12:01 a.m. Jan. 3 won't be counted toward the opening.
CBP issued the following releases on commercial trade and related matters:
The presidential proclamation on what types of steel and aluminum products, at what quantities, will be spared Section 232 tariffs says that the melted-and-poured requirement for goods under the quotas will limit transshipment and discourage excess steel capacity.
CBP issued the following releases on commercial trade and related matters:
The National Association of Foreign-Trade Zones has long argued that barring goods produced in FTZs from qualifying for USMCA tariff benefits makes no sense, if the goods would otherwise meet rules of origin, and that the restriction puts FTZ production at a disadvantage compared to Mexican and Canadian production.