The origin of electric vehicle motors and the applicability of Section 301 tariffs depends on where the two most important components of the engine are made, said CBP in a recently released ruling. In response to a country of origin ruling request from LG Electronics, CBP considered multiple manufacturing scenarios for the motors.

The following lawsuits were recently filed at the Court of International Trade:

A witness at a Senate Finance Committee hearing on China and trade competitiveness told senators that if the Miscellaneous Tariff Bill and his company's Section 301 exclusion aren't granted retroactively, Element Electronics would be forced to move production out of the U.S.

The following lawsuits were recently filed at the Court of International Trade:

The origin of electric vehicle motors and the applicability of Section 301 tariffs depends on where the two most important components of the engine are made, said CBP in a recently released ruling. In response to a country of origin ruling request from LG Electronics, CBP considered multiple manufacturing scenarios for the motors.

The following lawsuits were filed at the Court of International Trade during the week of April 12-18:

Treasury began “enhanced bilateral engagement” with Vietnam early this year toward developing a plan “with specific actions to address the underlying causes” of Hanoi’s currency undervaluation against the dollar, reported the department Friday. U.S. Trade Representative Katherine Tai signaled strongly this month that President Joe Biden's administration intends to keep U.S. allegations of Vietnam’s currency manipulation actively on the table (see 2104020009). Tai’s predecessor, Robert Lighthizer, opted not to impose remedial tariffs on Vietnam imports in the waning days of the Donald Trump administration for Hanoi’s allegedly improper devaluation of the dong against the dollar, but he did find Vietnam’s practices “actionable” under Section 301, leaving it up to the next administration to “continue to evaluate all available options” (see 2101150052). Vietnam’s “bilateral goods trade surplus” with the U.S. widened in 2020 to $70 billion, “the largest bilateral imbalance on record between the two countries,” reported Treasury. Vietnam’s exports to the U.S. grew about 19.5% in 2020, while imports from the U.S. decreased 8%, it said. “Vietnam’s growing bilateral trade surplus continues to reflect the country’s expanding export capacity, particularly in sectors such as apparel, technology, and electric machinery and equipment,” said the report. “The expanding surplus also reflects Vietnam’s deepening links with global supply chains, with Vietnam being one of the primary beneficiaries of the ongoing shifts in Asian supply chains.” Vietnam generated 19% of all smartphone imports to the U.S. in 2020, plus 5% of laptops and tablets and 24% of TVs under 35 inches, a segment of TVs that were in especially high demand last year during the COVID-19 pandemic.

Treasury began “enhanced bilateral engagement” with Vietnam early this year toward developing a plan “with specific actions to address the underlying causes” of Hanoi’s currency undervaluation against the dollar, reported the department Friday. U.S. Trade Representative Katherine Tai signaled strongly this month that President Joe Biden's administration intends to keep U.S. allegations of Vietnam’s currency manipulation actively on the table (see 2104020009). Tai’s predecessor, Robert Lighthizer, opted not to impose remedial tariffs on Vietnam imports in the waning days of the Donald Trump administration for Hanoi’s allegedly improper devaluation of the dong against the dollar, but he did find Vietnam’s practices “actionable” under Section 301, leaving it up to the next administration to “continue to evaluate all available options” (see 2101150052). Vietnam’s “bilateral goods trade surplus” with the U.S. widened in 2020 to $70 billion, “the largest bilateral imbalance on record between the two countries,” reported Treasury. Vietnam’s exports to the U.S. grew about 19.5% in 2020, while imports from the U.S. decreased 8%, it said. “Vietnam’s growing bilateral trade surplus continues to reflect the country’s expanding export capacity, particularly in sectors such as apparel, technology, and electric machinery and equipment,” said the report. “The expanding surplus also reflects Vietnam’s deepening links with global supply chains, with Vietnam being one of the primary beneficiaries of the ongoing shifts in Asian supply chains.” Vietnam generated 19% of all smartphone imports to the U.S. in 2020, plus 5% of laptops and tablets and 24% of TVs under 35 inches, a segment of TVs that were in especially high demand last year during the COVID-19 pandemic.

International Trade Today is providing readers with the top stories from April 12-16 in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.

The Tax Foundation, a nonpartisan think tank that advances right of center tax policy, issued a lengthy report how Congress might consider changing the tax code for faster growth, for income distribution, or for reducing the deficit, noting that each change requires balancing trade-offs. For instance, the Foundation says that getting rid of safeguard tariffs on washing machines and solar panels, the Section 232 tariffs on metals, making permanent the pause in Airbus tariffs, and removing and the Section 301 tariffs on $475 billion worth of Chinese imports will mean a reduction in $79.5 billion in revenue next year, though the economists at the think tank estimated that the savings would spur enough economic growth that about $7 billion of that loss would be recovered with other taxes.