Two Minutes in Trade

PACDBIA is meeting on Thursday to talk about US-Africa relations. Listen for more on today’s Two Minutes In Trade.

Treasury issued guidelines for the IRA tax benefits for EV purchases and expands benefits to countries other than current FTA partners. Listen for more on today’s Two Minutes In Trade.

Earlier this year, U.S. Customs and Border Protection (CBP) issued a headquarters ruling reiterating that importers need to take the country of origin, as well as whether the product might be subject to Sec. 301 or 232 duties into account when coming up with formulas to apportion assist values.  Have you looked at your assist apportionments lately?  If not, now may be a good time to do so.

State released its annual Human Rights report citing new problems in Russia, India and Cambodia. Listen for more on today’s Two Minutes In Trade.

Tick-Tock TikTok. Time is running out for unfettered app use. Listen for more on Congressional efforts on today’s Two Minutes In Trade.

As the U.S. considers measures to respond to growing concerns about China’s economic coercion, a new report downplays those concerns and says Beijing’s behavior may actually offer an opportunity to advance U.S. interests.

CBP has granted a thirty-day reprieve to report Russian smelting and casting information for aluminum, requiring 200% duties. Meanwhile, numerous questions persist.

This week USDA/APHIS previewed an upcoming announcement that will lead, in six months, to the final Phase of the Lacey Act declaration implementation. Once in force, all imported products subject to the Lacey Act declaration requirement will be mandated to provide supply chain information upon entry demonstrating compliance with the law prohibiting traffic in illegally harvested animal and plants and derived goods.

The recently introduced Innovation and Development in Ecuador (IDEA) Act would add Ecuador as an eligible country to the Caribbean Basin Economic Recovery Act, thus making many some Ecuadorian goods eligible for duty free entry. While Ecuador is clearly not part of the Caribbean, with no free trade agreements in sight this is the next best IDEA to strengthen economic ties between the US and Ecuador.

When is an FTA an FTA?  The US and Japan signed a free trade agreement on critical minerals…or did they?  Listen for more on today’s Two Minutes In Trade.