Here are (some) answers to your biggest tariff questions
Subscribe to enjoy similar stories. U.S. importers on Tuesday will no longer have to pay most of the sweeping tariffs President Trump imposed last year.
But companies won’t get a respite from the trade turmoil and uncertainty that is defining Trump’s second term. Nor can they expect the process for seeking tariff refunds to be easy. After the Supreme Court last week struck down tariffs imposed under the International Emergency Economic Powers Act, the Trump administration said it was temporarily imposing new duties on most imports under a different law.
It is also beginning the process of using other laws to impose more legally bulletproof levies. Here is what to know about the big tariff questions ahead: Customs and Border Protection told importers it will stop collecting tariffs imposed under Ieepa from Tuesday. That move will lower the cost of importing goods from major trading partners, such as China, Canada and Brazil.
Cindy Allen, chief executive of Trade Force Multiplier, an international trade and customs consulting firm, said some companies on Monday were using procedural tactics to delay the official entry of goods into the U.S. so that they could get a lower rate on Tuesday. Trump signed a proclamation on Friday, citing powers under a section of the Trade Act of 1974, to impose new tariffs of 10% on imports from all countries for 150 days—or roughly five months—taking effect Tuesday.
Over the weekend, he threatened to raise the tariffs to the maximum level allowable under the law of 15%. Importers are waiting for official guidance from Customs and Border Protection to see the rate of those tariffs and when they go into effect. The Trump administration plans to impose longer-lasting and more targeted tariffs
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