US President Donald Trump is putting back tariffs on industrial metals from Argentina and Brazil and is also considering tariffs up to 100% on French goods.  While none of this has been implemented it is something to be aware of if you are importing goods from any of these countries.

SOUTH AMERICA

When President Trump imposed 25% tariffs on foreign steel claiming national security, Argentina and Brazil were among the nations that received an initial exemption from the Section 232 tariffs imposed in March 2018. Instead they have been subjected to a quota system. But on December 02, 2019, Trump announced that “effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.” 

Following this unscheduled announcement, Brazilian President Jair Bolsonaro said he has “an open channel” with Trump and might appeal the tariffs. He is confident that Trump will listen to them.

EUROPE

The U.S. Trade Representative has completed the first phase of its investigation under section 301 of the Trade Act of 1974. It proposed that it may levy up to 100 percent on products of France. Click here to read the USTR report published December 2.

The tariff would affect a list of 63 tariff subheadings which include cheese, butter, yogurt, makeup, handbags, and other goods with an approximate trade value of $2.4 billion. A list of the products proposed by USTR for the additional duties may be found in the USTR’s announcement.

The USTR proposals are open for public comment until 6 January 2020.

Call 303-365-1000 to speak with one of our Commercial Import experts or email your Gallagher Broker if you have any questions regarding this or any other issue.