International shipping could continue to feel the effect of tariffs impacting steel imports. Over the last year, the Trump Administration imposed levies on various goods shipped into the US. Along with a 10% reciprocal tariff on all countries, Trump placed tariffs on...
The tariff war is continuing with the US proposing tariffs on 60 economies. On June 2, the United States Trade Representative (USTR) proposed tariffs of up to 12.5% on major US trading partners. Some countries that could be affected include China, Mexico, Canada,...
The legal fight over tariffs remains, as the CIT denies a Section 122 tariff stay. President Trump originally imposed the Section 122 tariffs as a response to the Supreme Court striking down the IEEPA tariffs. On May 7, the Court of International Trade (CIT) ruled...
Trade between the US and the European Union (EU) may soon benefit as the EU finalizes a US trade deal. On May 20, European Commission President Ursula von der Leyen announced a provisional agreement to remove duties on US goods. Likewise, the US agreed to maintain a...
On March 5, 24 states sued Trump over tariffs imposed under Section 122 of the 1974 Trade Act. Following the Supreme Court’s ruling against President Trump’s IEEPA duties, Trump announced Section 122 tariffs. Section 122 allows levies up to 15% for a 150-day period. A coalition of attorneys general and prosecutors from 24 states responded by filing a lawsuit against the Trump administration. The lawsuit argues that Trump misused Section 122, which is to address temporary balance-of-payment emergencies. Filed in the Court of International Trade (CIT), the suit is to declare the Section 122 tariffs illegal. This case is the first major legal challenge against the president’s new duties.
Similar to Trump’s imposition of IEEPA tariffs, a goal behind Section 122 levies is to address unfair trade imbalances. He notes that other countries impose higher tariffs on American goods than the US charges them. Imposing levies is also a way to leverage pressure on trading partners to revisit trading terms. The aim is to address non-tariff barriers and lower foreign tariffs. Another goal is to bring manufacturing and businesses back to the US and to stimulate the economy. Bringing manufacturing back to the US will pressure US buyers to stop relying on foreign products and ship domestically. Critics argue that the opposite will happen, with costs rising, especially for industries with global supply chains.
Following the lawsuit, the CIT will decide on whether to keep or deem Trump’s Section 122 tariffs illegal. If the levies are kept, all imports into the US will face a 15% for up to 150 days. After the 150-day period, the Trump Administration could impose a more permanent levy. However, if the court deems the levies illegal, importers could be entitled to refunds, similar to those under Trump’s IEEPA tariffs. Other levies, including a Section 232 tariff on imports such as steel, aluminum, and vehicles, remain in effect. The White House has not yet responded to the lawsuit.
When importing into the US, various situations may arise that can disrupt the shipping process. Although predicting what will happen next may not be easy, it is essential that importers mitigate potential disruptions. Along with staying current with the news, this can be done by speaking with a customs broker. A customs broker is a company or individual who clears goods entering a country on behalf of a shipper. In the US, they ensure shipments comply with CBP (Customs and Border Protection) regulations. Brokers do this by offering solutions like calculating duties, providing documentation, filing entries, offering consultations, and more. Contact our brokers at info@a1wwl.com or 305-821-8995 to ensure a successful importation.
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