Ten Democrats on the House Ways and Means Committee introduced a bill that would forbid the president from using the International Emergency Economic Powers Act, or IEEPA, to impose tariffs or quotas on imports.
Trump transition team members may have already drafted an executive order hiking tariffs on Chinese imports, said Peterson Institute for International Economics fellow Mary Lovely, during a webinar moderated by former European commissioner and now PIIE fellow Cecilia Malmstrom.
Members of the House Ways and Means Committee majority, who will lead the extension or expansion of the first Trump term income tax cuts, are expressing some hesitancy about using tariffs as a pay-for.
With just 14 days in session scheduled for the House of Representatives before the end of the year, Ways and Means Committee members are not expressing optimism that a renewal of the Generalized System of Preferences benefits program will be one of the items that gets a vote this Congress.
The U.S.-China Economic and Security Review Commission, in its annual report to Congress, said that ending de minimis for all e-commerce is one of its top 10 recommendations, and said that if Congress passes such a law, it should provide CBP adequate resources to implement and enforce the change.
In addition to tariff hikes expected in 2025, trade experts are also thinking about the 2026 review of USMCA, and the investment and supply chain planning uncertainty that is likely to follow.
NEW YORK -- The Consumer Product Safety Commission's intent to require information from certificates of compliance to be filed in ACE next year is alarming brokers, according to Erin Williamson, vice president of customs brokerage at GEODIS USA.
DETROIT -- Cindy Allen, owner of consultancy firm Trade Force Multiplier, said she believes some of the initiatives in the 21st Century Customs Framework bills are useful -- such as simplifying CBP's process for seizures -- but that overall, the focus is too heavy on enforcement.
Trade attorneys continue to wait and wonder what kind of tariff changes will come next year, with one observer using a tariff slide that said "Tariff Armageddon."
The Senate Appropriations Committee issued its proposal for funding the Department of Homeland Security, asserting its bill could get the bipartisan support needed to pass that chamber. House Speaker Mike Johnson, R-La., has previously said he would prefer to delay spending decisions until next year, when the House, Senate and White House will have Republican majorities. However, some observers believe Republicans would be better served by passing during the lame-duck session appropriations for the fiscal year that goes through September, freeing up Congress to spend its time in 2025 on the massive tax bill and other policy Trump administration priorities (see 2411120026).