On Friday, the US and EU agreed to suspend the tariffs assessed on certain products as a result of the continuing dispute over subsidies paid to Boeing and Airbus. This follows a similar arrangement reached a day earlier between the US and UK. The additional duties on EU goods imported into the US covered a value of about $7.5 billion and primarily targeted aircraft and agricultural products including wine, spirits, and cheeses. The EU tariffs covered about $3.9 billion of imported US products. The tariff suspensions will last four month while all the parties work toward a permanent settlement.
This action was not unexpected as the Biden administration had signaled that the EU tariffs could to be reviewed and EU officials have long indicated a desire for negotiation. This is different from the new administration’s position on the Sec 232 steel and aluminum tariffs and the Sec 301 tariffs on Chinese products; neither of these cases are expected to be changed in the near future.
The final two exclusion sets for the additional tariffs on Chinese products are expected to expire in March and April. A third exclusion set for COVID relief products, due to expire at the end of March, could be extended.
Director of Compliance & Customs Services
Need a refresher on tariff rounds and exclusions?
CVI has a free, complete guide to EVERYTHING you need to know for tariff rounds and exclusions, including:
- HTS Code
- Publish Dates
- Exclusion provision number per set list and round
- Effective & Extended Expiration Dates
The CVI Exclusion Guide 2020 provides you with a link to original USTR exclusion announcements with a breakdown of each excluded product.
Please let us know if you have any questions. We will be regularly updating this document via our website. Check it out here!
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Meet one of CVI’s Customs Brokerage & Compliance experts, Sam McClure:
Sam serves as Director, Compliance and Customs Services for CVI. He serves as CVI’s corporate compliance officer and is responsible for overseeing all aspects of our Customs related services, including growth.
Sam started his career in 1977 with Waters Shipping Company in Charlotte, NC. He began as a document runner, soon becoming a leader in operations and customer service for the branch. Sam, along with Linda Masten, founded Central Carolina Shipping Inc. in 1983 as an independent Customs Brokerage firm where he served as Vice President for 26 years. Sam and Linda grew Central Carolina into a successful and highly respected member of the Carolinas trade community. When Charlotte opened their local chapter of the IFFCBA Sam was part of the organizing group and he headed the Customs committee for several years. Sam obtained his Customs Brokers License in 1984 and remained with Central Carolina until the company was acquired by CVI in 2009.
At CVI, Sam has held several positions in both the operations and sales departments. As an expert in U.S. Customs regulations, Sam is often called upon on to provide guidance to importers on Customs compliance issues. He makes regular presentations on matters related to importation and broader regulatory compliance.
– Sam McClure, LCB, Director of Compliance & Customs Services, CVI
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