In March 2018, President Trump signed an executive order imposing Section 232 tariffs on steel products at the rate of 25% and 10% tariffs on aluminum products for reasons of national security. At this time, Canada was exempted from the steel and aluminum tariffs. On June 1, 2018, President Trump signed an executive order to
Canada Announced New Marking Rules for Steel and Aluminum
On May 30, 2018, Canada’s Minister of Finance announced new marking rules for steel and aluminum products. In a News Release entitled “Canada Bolsters Prevention of Transshipment and Diversion of Steel and Aluminum Products Through Country of Origin Marking Regime“, the Department of Finance announced that Canada was aligning its marking rules with
Schrödinger’s Cat: Can Goods Be Subject to Customs Duties and Not Subject Customs Duties At the Same Time?: Look in the Box before Shipping
Anyone who watches “The Big Bang Theory” knows about Schrödinger’s cat. The cat was both thought to be dead and thought to be not dead at the same time. There is a similar paradox for Canadian companies who sell to the United States and/or China. Canadian goods may be thought to be not subject to
Trade Trifecta!
Since the original publication of this Alert, South Korea and the U.S. have concluded their negotiations regarding the Korea-U.S. Free Trade Agreement, and, as a result, South Korea has been permanently excluded from the steel and aluminum tariffs.
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Some events rather significant to international traders occurred in the last few days. First, on Friday,
New Tariffs : Definition and Exclusion
When President Trump announced the 25% steel and 10% aluminum tariffs on March 8, 2018, he instructed the Secretary of Commerce to issue regulations explaining how American companies could seek exclusions from those tariffs no later than March 19, 2018, and that deadline has been met. These new regulations can be found at: https://www.commerce.gov/sites/commerce.gov/files/federal_register_vol_83_no_53_monday_march_19_2018_12106-12112.pdf
Before
Knock, Knock: The Tariffs Are Coming! The Tariffs Are Coming!
Originally published by the Journal of Commerce in March 2018
As has been widely reported, on March 8, 2018, President Trump signed one Presidential Proclamations imposing a 25% additional tariff on defined steel products, and a second one imposing an additional 10% tariff on defined aluminum products. The only countries exempted from the outset are
Steel/Aluminum Safeguard Tariffs HTS Update Published
The ABI programming for the new Harmonized Tariff System (HTS) classifications implementing the steel and aluminum safeguard tariffs was released earlier today by CBP.
The HTS numbers added are:
9903.80.01 STEEL PROD, NOTE 19, EX CA/M 25%
9903.85.01 ALUMINUM PROD, NOTE 19, EX CA/M 10%
with respect to goods entered, or withdrawn from warehouse for
The new Trump tariffs – the tip of the trade iceberg
Our good friend and Australian lawyer – Andrew Hudson – has published an article about the U.S. steel and aluminum tariffs with an interesting take based on current events in Australia.
Andrew’s article can be found on the Rigby Cooke website at http://www.rigbycooke.com.au/latest/new-trump-tariffs-tip-of-trade-iceberg. It has also been published in the DCN at http://www.thedcn.com.au/the-new-trump-tariffs-the-tip-of-the-trade-iceberg/ (subscription required).
Steel & Aluminum: Tough Tariffs, Tough Road Ahead?
Earlier today, President Trump announced his intention to adopt the recommendations of the Dept. of Commerce and impose tariffs on imports of steel and aluminum. The formal signing is said to be taking place “next week”. President Trump has stated those tariffs will be 25% on foreign-made steel and 10% on foreign-made aluminum. Hopefully when
Canada’s Economic Sanctions Against Iran Pose Difficulties For Some Canadian Companies
Canada
Canada continues to impose unilateral economic sanctions against Iran. Most Canadian companies believe that the economic sanctions do not impact their business activities. However, when I ask “Do the goods you wish to export to Iran include aluminum, stainless steel or silver?”, I see shocked faces. The reason why this question is important is