There are several trade developments of note that involve U.S. agreements with China, South Korea, and Japan.
The White House announced that reciprocal trade agreements were reached with the governments of Malaysia, Vietnam, Cambodia, and Thailand, in which the countries will respectively end import tariffs on U.S. goods.
The Trump administration has released a proclamation imposing Section 232 tariffs on imports of medium- and heavy-duty vehicles and parts, and buses.
Here are some of the top stories impacting global supply chains:
There have been two notable tariff developments that importers should be aware of.
Beginning October 14, the United States will begin enforcing the long-awaited Section 301 port-entry fees targeting vessels that are built, owned, or operated by Chinese entities.
President Trump announced in a social media post that all U.S. imports of medium- and heavy-duty trucks will be subject to a 25% Section 232 tariff rate, effective November 1.
President Trump announced the implementation of Section 232 tariffs on lumber, kitchen cabinets, vanities, and other wood products, effective at 12:01 a.m. ET on Oct. 14.
Customs and Border Protection (CBP) has provided more guidance to implement tariff-related elements related to Executive Order (EO) 14346, “Modifying the Scope of Reciprocal Tariffs and Establishing Procedures for Implementing Trade and Security Agreements,” from September 5.