House Ways and Means Committee Trade Subcommittee Chairman Adrian Smith, R-Neb., said he thinks the chances are good for renewing the Generalized System of Preferences benefits program in 2024, due to bipartisan interest in the legislation. "A lot of members have examples from their district of why we need GSP." He added that a three-year lapse of the benefit program is "inexcusable."
Sen. Sherrod Brown, D-Ohio, who warned the White House that reducing the scope of the Section 301 tariff list or reducing tariff levels "could undermine efforts to shore up our domestic manufacturing and supply chains," said he doesn't know the details of what products might leave the target list if the White House hikes tariffs on electric vehicles or their batteries.
The International Trade Commission posted the 2024 Basic Edition of the Harmonized Tariff Schedule. The new HTS implements the restoration of AGOA benefits for Mauritania and their removal for the Central African Republic, Gabon, Niger and Uganda, as well as a lengthy list of 10-digit-level changes for fruits and vegetables, chemicals, medicaments and recycled aluminum. Changes were effective as of Jan. 1 unless otherwise noted.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
International Trade Today is providing readers with the top 20 stories published in 2023. All articles can be found by searching on the titles or by clicking on the hyperlinked reference numbers.
The recent extension of over 400 Section 301 exclusions (see 2312260011) won’t be implemented in ACE until Jan. 4 at 7 a.m. EST, CBP said in a CSMS message. That means the exclusions will still expire in ACE on Jan. 1, despite the extension until May 31. Importers that enter goods that qualify for the extended exclusions between Jan. 1 and their implementation in ACE on Jan. 4 should file a post-summary correction on or after Jan. 4 “to obtain a refund of duties paid,” CBP said.