Element Electronics applied for an exclusion to the 15 percent List 4A Section 301 tariffs on the LCD main board assemblies it imports from China under the 8529.90.13.00 tariff code to assemble finished TVs in South Carolina, said a posting Thursday in the Office of U.S. Trade Representative’s public docket. The main board assemblies “are combined with LCD panel assemblies and other components to assemble a complete LCD television,” said Element. “There are currently no U.S. or third country sources available to Element for the LCD main board assemblies Element imports to assemble finished LCD TVs.” Element applied Nov. 1 for a List 4A exclusion on the LCD panel assemblies it sources from China under the 9013.80.90.00 tariff code (see 1911040030). Element didn’t respond to emails asking why it waited three weeks to file the second exclusion request. The LCD TVs Element builds in South Carolina are sold through Costco, Walmart and other big-box retailers.

Sonos forecasts a $30 million hit to fiscal 2020 profit from the 15 percent Section 301 List 4A tariffs that took effect Sept. 1, said Chief Financial Officer Brittany Bagley on a Q4 call Thursday. Most of the impact will be in the holiday quarter, she said.

The silence from the White House on auto tariffs and a Court of International Trade ruling on 50 percent tariffs on Turkish steel (see 1911180013) has left some trade lawyers wondering whether the window has closed to levy Section 232 tariffs on European cars. The panel of judges said that the law “cabins the President's power" procedurally, because of its deadlines. The Trump administration missed its deadline of Nov. 14 last week.

Consumer electronics company Sonos forecasts a $30 million blow to fiscal year 2020 profits, resulting from the 15 percent Section 301 List 4A tariffs that took effect Sept. 1, Chief Financial Officer Brittany Bagley said on a Q4 call Nov. 21. Most of the impact will be in the holiday quarter, she said. Citing “frequent speculation” about trade negotiations, Bagley said, “We are assuming for the purposes of this call that this remains in effect for the full year at 15 percent.” To mitigate tariff exposure, the company is diversifying its supply chain out of China and has accelerated production of U.S.-bound products in Malaysia. That capacity is “ramping up quickly, and we believe we will have largely eliminated the go-forward impact of tariffs by the end of the fiscal year,” Bagley said.

Target CEO Brian Cornell highlighted store performance in a Wednesday earnings call after the retailer posted better-than-forecast Q3 sales and earnings and raised its full-year outlook. Sales grew 4.5 percent to $18.67 billion, vs. $18.49 billion expected by analysts. Shares surged 14 percent Wednesday, closing at $126.43.

When the Ways and Means Trade Subcommittee held a hearing on the U.S.-Japan mini-deal, the Office of the U.S. Trade Representative declined to send anyone to testify. Rep. Ron Kind, D-Wis., one of the biggest boosters of free trade in the Democratic caucus, said that absence represents “the disdain the current administration has" for Congress, and its role in setting trade policy. He predicted that "this will have serious ramifications for the next time" Congress has a vote on fast-track authority.

Target CEO Brian Cornell highlighted store performance in a Wednesday earnings call after the retailer posted better-than-forecast Q3 sales and earnings and raised its full-year outlook. Sales grew 4.5 percent to $18.67 billion, vs. $18.49 billion expected by analysts. Shares surged 14 percent Wednesday, closing at $126.43.

The Commerce Department issued Federal Register notices on its recently initiated antidumping duty investigations on forged steel fittings from India (A-533-891) and South Korea (A-580-904), and its recently initiated countervailing duty investigation on forged steel fittings from India (C-533-892).

Fifty-one percent of retailers had to raise prices this holiday season to manage the costs of the Section 301 tariffs on Chinese goods, said an Adobe report released Tuesday. Four in 10 retailers are concerned about staying “price relevant” through Christmas, said Adobe, releasing findings from a holiday retailer survey.

CBP added on Nov. 13 the ability in ACE for importers to file entries with recently excluded goods in the third tranche of Section 301 tariffs, it said in a CSMS message. Filers of imported products that were granted an exclusion (see 1911080003) should report the regular Chapters 39, 42, 44, 48, 50, 54, 60, 73, 82, 83, 84, 85, 87, 90 and 94 Harmonized Tariff Schedule number, as well as subheading 9903.88.34, CBP said in the message. “Importers shall not submit the corresponding Chapter 99 HTS number for the Section 301 duties when” subheading 9903.88.34 is submitted, CBP said.