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With the election hype mostly over, the President-Elect is moving to build his cabinet. This recent election cycle showed the world that there are great disagreements about how the United States should engage in international trade. President Elect Trump’s message often conveyed a more protectionist position for businesses engaged in international trade. But what is the real expected position and where will the new leadership lead the United States with regards to trade?
The bottom line right now is that there is very little concrete confirmed vision regarding trade policy. We do know that there will be very little change within Congress since existing members of key committees will likely continue to support expanded trade. Here are a few points on key programs and what we know, or don’t know:
The new administration is signaling the intention to pursue more bi-lateral agreements instead of multi-lateral as in the past.
JAS USA Inc. Compliance Team continues to be involved locally and nationally. We are keeping our eye on the landscape and always working to ensure we are able to inform and assist to take action and protect our client’s trade interests through informed compliance. Questions? Contact us today!
On February 11, 2025, the President issued a proclamation regarding the importation of steel and aluminum articles, increasing tariff rates to 25% from all countries. As part of that proclamation, it was announced that there would be expanded 25% tariffs to include key downstream products (derivatives) for both steel and aluminum. The Annex containing those products has been drafted and is expected to be officially published in the Federal Register on February 18, 2025.
Key Points:
• There are 167 new codes for steel downstream products (derivatives) subject to the 25% tariff referenced in this proclamation (covering 4 different chapters of the HTSUS).
• There are 123 new codes for aluminum downstream products (derivatives) subject to the 25% tariff referenced in this proclamation (covering 11 different chapters of the HTSUS).
To read the draft Federal Register, and access our Excel listing of HTS affected, click the links below:
For February, we are highlighting Jacquelyn Bakker, our CHB Manager in the JAS Chicago office. Jacqulyn started her career in the industry in 2012 in an accounting role before moving into the brokerage side in 2014. In her words, that’s when she “found my niche.” Jacquelyn joined JAS in 2018. After being named as the Brokerage Supervisor, Jacquelyn decided to take on the “daunting task” of obtaining her broker’s license. After 3 months of studying, Jacquelyn was able to pass on the first try! Jacquelyn manages a team of 6 entry writers in our Chicago branch and CHB manager. Jacquelyn is detail oriented and attentive to the needs of her clients internally and externally!
Jacquelyn has a 19-year old daughter, loving fiance and 2 dogs at home. She enjoys family time BBQing in the summer, taking the dogs for longs walks, playing Pokemon Go with family and seeing movies in the theater.
Jacquelyn is yet another great example that People Make the Difference!
CBP is leading global efforts in combating forced labor by imposing import bans on goods produced with forced labor. This has inspired international action, including the European Union’s adoption of similar measures and the inclusion of forced labor prohibitions in the USMCA. CBP’s actions have also driven labor reforms, notably in Malaysia, which launched a National Action Plan on Forced Labor and ratified an international protocol to combat forced labor. These advancements demonstrate CBP’s significant influence in shaping global supply chain accountability and driving positive change.
Read more about it by checking out the link below:
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