CBP issued the following releases on commercial trade and related matters:​

CBP created Harmonized System Update (HSU) 2005 June 29, containing 124,980 Automated Broker Interface records and 24,925 Harmonized Tariff Schedule records, it said in a CSMS message. The update includes changes necessary to implement the U.S.-Mexico-Canada Agreement and to support the automation of softwood lumber assessments. The update also covers modifications mandated by the 484 F Committee (the Committee for Statistical Annotation of Tariff Schedules) and recent Section 301 tariff exclusions. Further information: Jennifer Keeling, Jennifer.L.Keeling@cbp.dhs.gov.

International Trade Today is providing readers with some of the top stories for June 22-26 in case they were missed.

It's unclear how a President Joe Biden would try to use policy to shape the global supply chain, but the Atlantic Council's Asia Security director said that since Biden prefers a multilateral approach, he “might be less likely” to impose tariffs or export controls. Miyeon Oh, who was speaking during an Atlantic Council webinar June 26, said he might try to get allies to coordinate an effort “to rebalance the global supply chain,” and he might seek to use American participation in the Trans-Pacific Partnership as a way to do so.

The Office of the U.S. Trade Representative seeks comment on whether all exclusions granted to Chinese imports on Section 301 List 4 that are to expire Sept. 1 should be extended for up to another year, says Friday's Federal Register. USTR will accept comments July 1-30. Each exclusion will be evaluated independently, based on whether a product remains available only from China, it said: Companies are required to post a rationale publicly for extending the exclusions for another year.

The Office of the U.S. Trade Representative seeks comment on whether all exclusions granted to Chinese imports on Section 301 List 4 that are to expire Sept. 1 should be extended for up to another year, says Friday's Federal Register. USTR will accept comments July 1-30. Each exclusion will be evaluated independently, based on whether a product remains available only from China, it said: Companies are required to post a rationale publicly for extending the exclusions for another year.

Section 301 tariff costs motivated a third of global supply chain “leaders” to move sourcing out of China or to make plans to do so in the next three years, Gartner reported June 24. Gartner, a research and advisory company, canvassed 260 fulfillment companies and contract manufacturers in February and March and found COVID-19 was “only one of several disruptions that have put global supply chains under pressure,” it said. The U.S.-China trade war “made supply chain leaders aware of the weaknesses of their globalized supply chains and question the logic of heavily outsourced, concentrated and interdependent networks,” Gartner said. China for decades was the “go-to destination for high-quality, low-cost manufacturing,” but the tariffs abruptly changed that profile, it said. The Section 301 duties raised supply chain costs by up to 10% for more than 40% of respondents, it said. For more than a quarter of them, “the impact has been even higher,” it said. Vietnam, India and Mexico are top alternative countries of origin. The desire to make supply networks more “resilient” is the second main motivator behind tariffs chasing companies out of China, it said.

It's unclear how a President Joe Biden would try to use policy to shape the global supply chain, but the Atlantic Council's Asia Security director said that since Biden prefers a multilateral approach, he “might be less likely” to impose tariffs or export controls. Miyeon Oh, who was speaking during an Atlantic Council webinar June 26, said he might try to get allies to coordinate an effort “to rebalance the global supply chain,” and he might seek to use American participation in the Trans-Pacific Partnership as a way to do so.

The Office of the U.S. Trade Representative seeks comment on whether all exclusions granted to Chinese imports on Section 301 List 4 that are to expire Sept. 1 should be extended for up to another year, says Friday's Federal Register. USTR will accept comments July 1-30. Each exclusion will be evaluated independently, based on whether a product remains available only from China, it said: Companies are required to post a rationale publicly for extending the exclusions for another year.

Section 301 tariff costs motivated a third of global supply chain “leaders” to move sourcing out of China or make plans to do so in the next three years, reported Gartner Wednesday. It canvassed 260 fulfillment companies and contract manufacturers in February and March and found COVID-19 was “only one of several disruptions that have put global supply chains under pressure,” it said. The U.S.-China trade war “made supply chain leaders aware of the weaknesses of their globalized supply chains and question the logic of heavily outsourced, concentrated and interdependent networks,” said Gartner. China for decades was the “go-to destination for high-quality, low-cost manufacturing,” but the tariffs abruptly changed that profile, it said. The Section 301 duties raised supply chain costs by up to 10% for more than 40% of respondents, it said. For more than a quarter of them, “the impact has been even higher,” it said. Vietnam, India and Mexico are top alternative countries of origin. The desire to make supply networks more “resilient” is the second main motivator behind tariffs chasing companies out of China, it said.