May 7, 2025–Top Stories
White House Update
Treasury Secretary Scott Bessent and USTR Jamieson Greer plan to meet with a Chinese economic official this week in Switzerland. This is the first face-to-face trade talk between the two countries since the U.S. imposed tariffs on China.
In response to the Trump Administration’s recent tariff actions, AAEI’s Customs Committee launched a Tariff Working Group. The next meeting is on Tuesday, May 20th at 2:00 p.m. EDT and will include a member presentation on managing the new tariffs.
If you are interested this working group or a Committee, please visit AAEI’s Member Hub to join. After logging in, click “My Info” and add the Working Group to “Lists/Committees.”
Stay informed of tariff changes using AAEI’s Presidential Actions Timeline.
Legislative Update
The Senate voted against a resolution aiming to end the declared emergency justifying the IEEPA tariffs on a 49-49 vote last week.
Regulatory Insight
CBP released an updated Fact Sheet on the new 2025 tariff requirements. The Fact Sheet includes guidance on reciprocal and sector-specific tariffs.
More Stories to Stay Informed:
- President Trump’s tariffs have reportedly caused a 50% drop in exports at some ports. U.S. exports have reportedly dropped significantly at major ports, by as much as 50% in Portland, following President Trump’s new tariffs. Shipping experts say goods expected in the next month “simply won’t” arrive.
- President Trump announced a 100% tariff on foreign-produced movies on Truth Social this week.
- CBP updated its IEEPA FAQ Page with a clarified the definition of “vessel” last week.
