Late Friday night the President announced successful negotiations with Mexico. With a signed agreement addressing illegal immigration, the President has suspended indefinitely the planned tariffs against Mexico.
The 5% tariff on goods from Mexico will not go into effect on June 10, 2019.
On May 31, 2019,
President Trump issued a proclamation announcing the termination of India as a beneficiary
developing country. The decision comes as a result of the fact that,
according to the President, India has not assured the United States
that it will provide equitable and reasonable access to its markets as
well as refrain from engaging in unreasonable export practices.
things, this means that US imports from India entered for consumption or
withdrawn from warehouse for consumption, will no longer be eligible for
preferential duty treatment under the Generalized
System of Preferences as of June 5.
Contact Us to learn how ETC can help you manage your supply chain and any unforeseen costs.
President Trump has announced plans to impose 5 percent tariffs on all goods imported from Mexico, rising to as high as 25 percent until – according to the White House – the Mexican government stems the flow of migrants. While most specifics are not yet known – conceptually, tariffs will become effective June 10 and gradually increase by 5 percent each month until they reach 25 percent in October.
What we still don’t know:
If the action is to be administered by the date
If all exports from Mexico to the US are covered
including non-Mexican origin goods exported from Mexico and the US goods returned
Whether NAFTA benefits for duty and merchandise
processing fee will be allowed
Whether these tariffs are eligible for drawback,