Questions about Tariffs?
Feeling unsure about how tariffs might affect your goods? Whether you’re exploring exemption options or just need a clearer picture, we’re here to help. Send us an email at [email protected]
Tariffs –
President Trump recently announced a bump to the steel and aluminum tariffs from 25% to 50%, with Wednesday (June 4th) at 12:01am EDT, being the in effect date, per an Executive Order. The United Kingdom has been exempt from the additional 25% increase, however.
Additionally, last week the U.S. Court of International Trade ruled some of President Trump’s tariffs to be unconstitutional. A temporary stay now allows the tariffs to remain in place while the ruling is appealed.
Furthermore, trade talks between the U.S. and China took place this week. As of this morning (June 11th), President Trump said a “deal is done.” What that means remains to be seen, as nothing has been officially signed, according to CBS News.
Port Infrastructure –
Port Houston will receive $131 million in funding to their ship channel construction, operations and maintenance. On top of that, the port reported strong volumes in April, per the port’s press release. Specifically, they handled 387,478 TEUs throughout their terminals, which is a 20% increase from the year prior.