A day after President Donald Trump announced sweeping tariffs upon dozens of trading partners, including countries that the U.S. has historically had friendly relations with, customs brokers and importers have numerous questions, such as whether ACE has the ability to verify values accurately and what role drawback might have as companies respond to the tariffs.
"It’s crazy for us all trying to understand the new requirements and how to comply," one broker told International Trade Today.
A CBP official said during the April 3 bi-weekly ACE trade support call that the agency is working on CSMS messaging that will provide further technical instructions, as well as guidance related to the executive orders on reciprocal tariffs and low-value imports.
"I just wanted to acknowledge the very prolific trade events that have been happening, and I wanted to reassure everyone that CBP is working closely with our other government agencies to implement recent executive orders, and we're working hard to continue to provide updates as we are able to, including detailed guidance that promotes compliance," the CBP official said on the call.
But one of the potential issues that might arise when multiple trade actions occur on one day is the ability of ACE to absorb and adapt to these actions. Not only did the Trump administration announce reciprocal tariffs (see 2504020072), it also announced plans to end the de minimis exemption for Chinese imports (see 2504020006), and it released additional information on tariffs related to automotive parts and vehicles (see 2504020081) and Section 232 (see 2504020015).
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