Taxes, Tariffs & Trade

On August 20, NAFEM again testified before the Section 301 Committee, chaired by the U.S. Trade Representative (USTR). In its testimony and written comments and NAFEM submitted, Vice President, Regulatory and Technical Affairs Charlie Souhrada conveyed that items included on List 3 have the potential to negatively impact NAFEM members by targeting material inputs, tools […]

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If you learn of a federal, state or local issue potentially impacting your business, let us know. NAFEM is here to support the advocacy needs of its members. Contact Charlie Souhrada. In the meantime, we’re watching the issues below.

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On July 10, the U.S. Trade Representative (USTR) released a proposed list of Chinese imports, found in Annex A of a draft Federal Register notice, which could be subject to an additional 10 percent tariff once the list becomes final.

This list, covering approximately $200 billion worth of goods, is the third group of imports that may be subject to tariffs, and represents the latest trade development to occur between the United State and China.

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U.S. Customs and Border Protection has issued instructions for importing items from China that are impacted by the 25 percent tariffs.

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U.S. Senator Ron Johnson (WI-R) met with 15 Wisconsin companies, including NAFEM members Hatco, represented by Dave Rolston, CFSP, president/CEO, and Vollrath, represented by Steve Heun, CFO, to learn more about the impact on their businesses of the Section 232 steel and aluminum tariffs and Section 301 tariffs on Chinese imports.

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On July 24, NAFEM’s Vice President, Regulatory & Technical Affairs, Charlie Souhrada, CFSP, testified before the Section 301 Committee of the U.S. Trade Representative (USTR) on the association’s behalf. In the statement – and in written comments NAFEM also submitted on behalf of members – Charlie shared that certain components imported from China are not readily available from other sources and are essential to produce U.S.-manufactured equipment and supplies.

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U.S Senator Ron Johnson (WI-R) met with 15 Wisconsin companies, including NAFEM members Hatco, represented by Dave Rolston, CFSP, president/CEO, and Vollrath, represented by Steve Heun, CFO, to learn more about the impact on their businesses of the Section 232 steel and aluminum tariffs and Section 301 tariffs on Chinese imports.

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The Administration has proposed an additional $200 billion in 10% tariffs on Chinese imports. This new list of tariffs (list 3), has been added to list 1 of $34 billion in 25% tariffs that went into effect July 6, and list 2 of $16 billion of 25% tariffs under consideration.

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The tariffs – 25 percent on imported steel and 10 percent on imported aluminum – have now been levied against all countries except those that have agreed to import quotas – Argentina, Australia, Brazil and South Korea.

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