Transport, Logistics and Trade Sector Updates of The Week
FMC Enters into Two New Compromise Agreements, Collecting $1.35M in Civil Penalties The Federal Maritime Commission (FMC) on Nov. 18 issued a press release stating that it entered into a compromise agreement […]
CBP Update on Agricultural Products Exempted from Reciprocal Tariffs
Customs and Border Protection (CBP) on Nov. 14 provided the trade with updated guidance regarding certain exemptions from the tariffs on imported merchandise imposed by Executive Order 14257, issued April […]
US and South Korea Outline Tariffs Under Strategic Trade and Investment Deal
President Trump and South Korean President Lee Jae Myung on Nov. 13 affirmed the tariff changes and updates under the U.S.-South Korea Strategic Trade and Investment deal, following their in-person […]
President Trump Executive Order Exempts Many Agricultural Products from Reciprocal Tariffs
President Trump on Nov. 14 released an executive order which effectively ends reciprocal tariffs for certain agricultural product imports. The order took effect for these now exempted goods entered for […]
Trump Proclamation Imposes 25% Tariff on Heavy-Duty Trucks and 10% Tariff for Buses
The Trump administration on Oct. 17 released a proclamation imposing Section 232 tariffs on imports of medium- and heavy-duty vehicles and parts, and buses. Specifically, the proclamation imposes a 25% tariff on […]
GSM International Customs Committee Monitors Upcoming Nov 5 Oral Arguments before US Supreme Court Regarding Legality of IEEPA Tariffs and Other Recent Tariff Actions
President Trump Calls Off Trade Talks with Canada President Trump on Thursday evening, Oct. 23, posted on Truth Social that trade talks with Canada were “TERMINATED” over an advertisement released by the […]
President Trump Calls for Additional 10 Percent Tariff on Canadian Goods
President Trump in a Truth Social post on Saturday, Oct. 25, said he will increase tariffs on Canadian goods by an additional 10%, following a briefly run advertisement posted on Thursday, Oct. […]
US Reciprocal Trade Agreements Reached with Malaysia, Vietnam, Cambodia and Thailand on Oct 26
The White House announced on Oct. 26 that reciprocal trade agreements were reached with the governments of Malaysia, Vietnam, Cambodia, and Thailand, in which the countries will respectively end import […]
MONITOR U.S. GOVERNMENT SHUTDOWN RESOURCES WEBPAGE FOR USEFUL UPDATES
GSM International reminds everyone to routinely check NCBFAA’s Government Shutdown Resources webpage for updates and announcements which are added as soon as they are received from Customs and Border Protection (CBP) […]
CBP Confirms on Oct 6 Call with Trade – No Refunds Issued During Government Shutdown
Customs and Border Protection (CBP) during an Oct. 1 call with the trade that no refunds of any type, including drawback, ACH, etc., are part of the excepted functions currently […]
