Canada and Mexico Goods Now Exempt to Some Tariffs
In an Executive Order (EO) issued yesterday, April 29, 2025, the President amended recent tariff actions on products of Canada or Mexico, including automotive tariffs, Section 232 steel and aluminum tariffs, and tariffs under the International Emergency Economic Powers Act (IEEPA). The significant amendment means these tariffs do not stack on top of each other.
Read the proclamation:
https://www.whitehouse.gov/presidential-actions/2025/04/addressing-certain-tariffs-on-imported-articles/
Automobiles and Automobile parts may be eligible to apply for an import adjustment offset
In another Presidential Proclamation on automobiles and automobile parts, Original Equipment Manufacturers (OEMs) may be eligible to apply for an import adjustment offset amount equal to 3.75 percent of the aggregate Manufacturer’s Suggested Retail Price (MSRP) value of all automobiles assembled in the U.S. in the next year. The Commerce Secretary will establish a process within 30 days for applying for this credit. Manufacturers who are approved will be able to list their suppliers, who may also be eligible for the credit.
Read the proclamation:
https://www.whitehouse.gov/presidential-actions/2025/04/amendments-to-adjusting-imports-of-automobiles-and-automobile-parts-into-the-united-states/
Drawback: Trade Remedies Frequently Asked Questions (FAQs)
FAQs from the U.S. Customs and Border Protection agency:
https://www.cbp.gov/trade/automated/news/drawback/drawback-trade-remedies-frequently-asked-questions
