An Executive Order has been issued modifying the United States’ reciprocal tariff framework with China, following early signs of trade cooperation. The order temporarily lowers punitive tariff rates, suspends several HTSUS provisions, and defers a planned duty hike on low-value imports—all effective May 14, 2025.
Effective May 14, 2025, the U.S. will suspend 24 percentage points of its 34% reciprocal tariff on Chinese goods for 90 days—retaining a 10% baseline = 145% to 30%. In parallel, China will suspend 24 percentage points of its 34% tariff on U.S. goods for 90 days, maintain a 10% baseline = 125% to 10%, eliminate recent retaliatory tariffs, and withdraw non-tariff measures imposed since April 2, 2025. Full details here.
The U.S. and U.K. have announced a landmark Economic Prosperity Deal to boost trade, reduce barriers, and secure supply chains. The agreement opens $5 billion in new export opportunities for U.S. producers and lays the foundation for deeper, fairer economic ties.
We are proud to announce that once again, GHY has been announced a winner of Canada's Best Managed Companies, retaining its Platinum Club status for the 11th consecutive year, maintaining its status as one of Canada's Best Managed Companies for the past 17 years. Full details here.
CBP has clarified when separate informal entries may be filed for shipments consigned to a single consignee. The guidance outlines exceptions to the general rule requiring one entry per conveyance and explains when multiple informal entries may be used under specific regulatory conditions.
Under the amended Section 232 policy, automakers that assemble and sell vehicles in the U.S. can earn tariff credits to offset the cost of imported auto parts—part of the Trump administration’s strategy to reduce foreign dependence and strengthen national security.
CBP has confirmed that only ocean vessel shipments qualify for the in-transit exemption from new reciprocal tariffs. Importers who incorrectly used the exemption code for non-vessel shipments must take immediate corrective action.
Trump’s latest Executive Order aims to eliminate overlapping tariffs from stacking on the same goods, aiming to simplify U.S. trade enforcement while preserving national security duties.
The Department of Commerce invites businesses, organizations, and individuals to submit feedback on the Section 232 national security review of truck imports. Make sure your voice is part of the conversation—submit your comments by May 16, 2025, via regulations.gov (Docket ID BIS-2025-0024).
With tighter enforcement from CBP and looming changes to de minimis thresholds, now is the time to audit your customs documentation for accuracy and compliance. This guide breaks down what you need to review—and how GHY can help you stay ahead of costly penalties.
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