July 2, 2025—Top Stories:
Tariff Updates
- President Trump is reportedly meeting with trade advisers this week to place reciprocal tariffs on countries he thinks are not on track to reach trade deals with the U.S. by next Tuesday, according to a White House Spokesperson.
- President Trump announced a trade deal with Vietnam today, under which Vietnamese goods will face a 20% tariff. Transshipments will face a 40% tariff.
- President Trump threatened to impose higher tariffs on Japan if it does not agree to import more American goods, in a TruthSocial post on Monday.
- Canada’s new government rescinded its digital services tax this week in an effort to resume trade negotiations with the U.S.
- The U.S.-UK Trade Deal was published in the Federal Register last week. The General Terms include an annual quota of 100,000 vehicle imports and a tariff rate of 10% for British cars. CBP released the associated CSMS message yesterday with a Harmonized System Update including the U.S.-UK Economic Prosperity Deal effective June 30, 2025.
Legislative Update
The Senate version of the Big Beautiful Bill cut out two trade-related provisions that passed the House, one of which would end de minimis for all imports in July of 2027. This provision was excluded from the Senate’s first version of the bill.
Regulatory Update
The Senate confirmed Rodney Scott for the position of Commissioner of U.S. Customs and Border Protection (CBP) last week. Scott served as chief of Border Patrol during the first Trump administration and under former President Biden’s administration.
More Stories to Stay Informed:
- CBP’s Commercial Customs Operations Advisory Committee (COAC) urged CBP to increase its communication with the trade when updating the agency’s FAQs on the new tariffs, in a unanimous vote at last week’s meeting.
- The Bureau of Industry and Security (BIS) announced two General Authorizations and FAQs last month related to the Information and Communication Technology and Services (ICTS) Rule prohibiting the import and sale of connected vehicles and parts that have supply chains linked to China or Russia.
- CBP launched its Forced Labor Allegation Portal two weeks ago, allowing trade users to submit forced labor allegations.
- CBP deployed access to Consumer Product Safety Commission (CPSC) documents in the ACE Portal last week.
