IRobot slashed operating income projections for the fiscal year ending Jan. 1 on concerns over higher supply chain costs, price increases and Section 301 tariffs, Chief Financial Officer Julie Zeiler said on an Oct. 28 earnings call. Q3 gross margin declined by 11 percentage points, with 60% of the decrease due to an unexpected $14 million in tariff costs and “supply chain headwinds.”
The Office of the U.S. Trade Representative voiced support for the current CAFTA-DR rules of origin as the best way to support the textile industry in the Northern Triangle countries, following an Oct. 29 meeting with a domestic industry textiles group. Imports from Central American countries covered by the Dominican Republic-Central America Free Trade Agreement have been flat since the agreement came into effect 15 years ago and some have talked about loosening restrictive textile rules of origin to boost production there.
The following lawsuits were recently filed at the Court of International Trade:
The following lawsuits were filed at the Court of International Trade during the week of Oct. 18-24:
Importer Cyber Power Systems (USA) Inc.'s telecommunications cables qualify for Section 301 China tariff exclusions and the duties it paid on the cables should be refunded, the importer argued in an Oct. 22 complaint at the Court of International Trade challenging CBP's denial of its protest, which sought to apply a particular exclusion (Cyber Power Systems (USA) Inc. v. United States, CIT #21-00200).
International Trade Today is providing readers with the top stories from Oct. 18-22 in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
The U.S. won't impose Section 301 tariffs on goods from Austria, France, Italy, Spain and the U.K. over digital services taxes, the Office of the U.S. Trade Representative announced. Those markets settled with the Treasury Department about the transition from DSTs to a new approach for taxing multinational firms, USTR said. Tariffs on goods from India and Turkey, which weren't party to the settlement, remain suspended through early December, USTR said. Ending the tariffs on the five countries drew tech industry hopes for a rollback everywhere. “While today’s transitional agreement is a meaningful step, it is imperative that all governments urgently and fully withdraw their digital services tax measures,” said Information Technology Industry Council CEO Jason Oxman Thursday. The Computer & Communications Industry Association said it backs a "broader multilateral global tax agreement."
The U.S. won't impose Section 301 tariffs on goods from Austria, France, Italy, Spain and the U.K. over digital services taxes, the Office of the U.S. Trade Representative announced. Those markets settled with the Treasury Department about the transition from DSTs to a new approach for taxing multinational firms, USTR said. Tariffs on goods from India and Turkey, which weren't party to the settlement, remain suspended through early December, USTR said. Ending the tariffs on the five countries drew tech industry hopes for a rollback everywhere. “While today’s transitional agreement is a meaningful step, it is imperative that all governments urgently and fully withdraw their digital services tax measures,” said Information Technology Industry Council CEO Jason Oxman Thursday. The Computer & Communications Industry Association said it backs a "broader multilateral global tax agreement."
The following lawsuits were recently filed at the Court of International Trade:
The following lawsuits were recently filed at the Court of International Trade: