In the News: Border Shutdown, Customs Bonds, Canada Tariffs, China, India Retaliation

Thursday, April 04, 2019

Sandler, Travis & Rosenberg Trade Report

White House looks to minimize economic impact of Trump’s border shutdown threat

“As Trump has escalated his threats to close the border in recent days, top aides have launched a two-pronged strategy in preparation for a decision. One approach has been to study ways to minimize the economic impact of shutting the border with the United States’ second-largest trading partner, in part by allowing trains and trucks to continue bringing goods across the border. The second prong has included a series of internal warnings to Trump about what might happen if the border is sealed, messages delivered by National Economic Council Director Larry Kudlow and Kevin Hassett, head of Trump’s Council of Economic Advisers.”

[Washington Post]

U.S. Customs demands bigger bonds as trade tariffs rise

“The rise in tariffs means that U.S. Customs and Border Protection (CBP) has issued thousands of importers with notices that their bonds are inadequate. The CBP has issued about 3,500 insufficiency notices since January, it said. That compares to an average of 2,070 notices a year for the period between 2006 and 2017, according to data compiled by Roanoke Insurance Group. If importers fail to post a new bond within a month of receiving an insufficiency notice, customs officials can hold the cargo and charge additional fees.”

[Reuters]

Ottawa considering new retaliation to end U.S. tariff fight, source says

“If Canada does look at increasing retaliatory tariffs, it would target products for which Canadians have other purchasing choices.”

[CBC]

China will continue to suspend extra tariffs on U.S. vehicles, auto parts

“China’s State Council said on Sunday that the country would continue to suspend additional tariffs on U.S. vehicles and auto parts after April 1, in a goodwill gesture following a U.S. decision to delay tariff hikes on Chinese imports.”

[Reuters]

India delays levying retaliatory tariff on U.S. goods to May 2

“Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples. But since then, New Delhi has repeatedly delayed the implementation of the new tariff.”

[Reuters]

© 2019, Sandler, Travis & Rosenberg, P.A. Originally published in the 04/04/19 issue of the Sandler, Travis & Rosenberg Trade Report. Reprinted by permission.

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