Schumer introduced a bill to repeal Section 338 and 122 tariffs, House odds improve on Russia sanctions, and Panama Canal cuts squeeze TPEB capacity.
Schumer introduced a bill to repeal Section 338 and 122 tariffs, House odds improve on Russia sanctions, and Panama Canal cuts squeeze TPEB capacity.
Canada retaliates against Section 338 with tariffs on $20B of U.S. exports from Sept. 8, while TPEB rates hit a four-year high and Panama Canal cuts slots.
Canada's Section 338 tariff deadline moves to Aug. 22 with auto and alcohol duties suspended, and Typhoon Dolphin backs up 2.4M TEU at Shanghai and Ningbo.
The Senate passed a bill allowing 100% tariffs on buyers of Russian oil, with a House vote pending, as new Section 232 polysilicon tariffs take effect Dec. 4.
BIS proposes adding cables, cranes, and other copper, steel, and aluminum goods to Section 232 coverage at 25%, with public comments due to BIS by Aug. 27.
A bipartisan deal on the Russia sanctions bill advances secondary tariffs that could hit China and India, as Strait of Hormuz transits fall 90% year over year.
The USTR left the July 24 expiration of 10% Section 122 tariffs undecided as the U.S. appeals the CIT ruling, with 50% Section 338 duties on Canada due Aug. 19.
Section 301 tariffs on Brazil take effect July 22, stacking with Section 122 duties, as a Strait of Hormuz closure restricts 200K TEU of ocean capacity.