Trade Updates
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U.S. Imposes 25% Tariff on Semiconductors Under Section 232
Under Section 232, the U.S. imposes a 25% tariff on advanced semiconductors, including NVIDIA H200 and AMD MI325X, to protect national security and reduce reliance on foreign supply chains. Exemptions apply for U.S. data centers, R&D, startups, and domestic industrial and public sector applications supporting the technology supply chain.
U.S. Targets Critical Mineral Imports Under Section 232
Under Section 232, the U.S. targets imports of processed critical minerals and derivative products that threaten national security. The administration will negotiate trade agreements, promote price floors, and may impose tariffs or import restrictions while federal agencies monitor supply chains and implement regulations to secure domestic production.
Reminder: CBSA RPP Financial Security Requirements Due January 15
Importers in Canada’s Release Prior to Payment (RPP) program must meet updated financial security requirements by January 15. Ensure posted security matches recalculated amounts, review updates in the Client Compliance Portal, and address system notifications promptly. Pending adjustment requests will be considered before enforcement actions.
CBP Publishes 2026 Periodic Monthly Statement Due Dates for 2026
CBP has released the 2026 Periodic Monthly Statement (PMS) dates for ACE-approved filers. PMS allows importers to pay prior-month duties, taxes, and fees in a single statement. Both 11th and 15th workday payment options are provided each month, helping importers plan cash flow and ensure timely compliance with CBP requirements.
CBSA Publishes January 2026 Trade Compliance Verification Priorities
CBSA released its 2026 trade compliance priorities, focusing on supply-managed goods, surtaxes, taxes, and trade agreement compliance. Using CARM and other tools, the agency targets suspected or known non-compliance while adjusting priorities based on risk, revenue exposure, and verification outcomes throughout the year.
eFiling Final Rule for Certificates of Compliance (CPSC Webinar & Registration Info)
The CPSC finalized a rule requiring electronic filing of Certificates for most imported consumer products, effective July 2026. Importers can register early to test systems and prepare for compliance. A virtual webinar will provide guidance on submission options, deadlines, and best practices for smooth transition.
Canada Releases List of Steel Derivative Products Subject to 25% Tariff (Updated)
Canada will impose a 25% surtax on steel derivative products starting December 26, 2025. The list includes structural components, wires, fencing, chains, fasteners, springs, furniture, lighting, and prefabricated buildings. The CBSA confirmed the surtax applies to all goods under these tariff codes, even without steel, with exemptions and remission considered case by case.
U.S. Extends Duty-Free Access for Israeli Agricultural Products Through 2026
The U.S. extends duty-free access for Israeli agricultural products through December 31, 2026. Updated HTSUS Chapter 99 quotas and technical corrections ensure continued compliance under the U.S.–Israel Free Trade Area while permanent revisions to the 2004 agricultural agreement are implemented.
U.S. Tariffs on Lumber, Upholstered Furniture & Related Imports (Updated)
On December 31, 2025, President Trump signed a Proclamation delaying tariff increases on imported upholstered furniture, kitchen cabinets, and vanities. Current 25% tariffs will remain through 2026, with increases now scheduled for January 1, 2027, while trade negotiations with international partners continue.
Canada Updates Forced Labour Reporting Guidance and Launches 2026 Reporting Cycle
Public Safety Canada opened the 2026 reporting cycle under the Supply Chains Act, set May 31, 2026, as the deadline, and released updated guidance clarifying requirements. A list of entities with published reports is available, with quarterly updates planned.
Canada Finalizes Anti-Dumping Determination on Carbon and Alloy Steel Wire
The CBSA confirmed dumping of carbon and alloy steel wire from 12 countries, with margins from 5.7% to 158.9%. Provisional duties have been applied since September 4, 2025, and will continue until the CITT issues its final injury decision by January 2, 2026
CBSA Extends Administrative Review for Chinese Mattresses (MAT 2025 UP2)
CBSA has extended its administrative review of certain Chinese mattresses under MAT 2025 UP2. The revised schedule updates deadlines for record closure, case arguments, and reply submissions. The review now concludes on February 24, 2026, affecting key exporters including Sinohome, Dormeo, and Sinomax.
Canada FOP Nutrition Labelling Mandatory for Most Prepackaged Foods From Jan. 1, 2026
Canada will require front-of-package nutrition symbols on most prepackaged foods high in saturated fat, sugars, or sodium starting January 1, 2026. The rules define nutrient thresholds, exemptions, and symbol presentation, helping manufacturers and importers ensure compliance and avoid border or in-market issues.
CBP Provides Unstacking Tariff Chart
CBP has released the Unstacking Certain Tariffs Chart to help importers identify which Presidential Proclamations and Executive Orders may apply to their products and whether multiple tariffs could “stack.” The chart is informational only, and importers must review the official legal authorities and exercise reasonable care in declaring applicable HTSUS classifications.
U.S. Lowers Tariffs to 15% in Historic Trade Deal with Switzerland and Liechtenstein (Updated)
The U.S., Switzerland, and Liechtenstein have agreed on a trade framework with 15% tariffs to boost exports, investment, and U.S. jobs. Update: USTR’s Federal Register notice makes certain tariff reductions retroactive to 12:01 a.m. ET, November 14, 2025. CBP issued guidance on applying the modified rates under the trade framework.
CEO & President’s Message: Honouring Our People and Clients, Supporting Our Communities
GHY reflects on a year of resilience, collaboration, and growth, celebrating the integration of W.G. McKay and the dedication of clients, partners, and associates. We also highlight our support for local communities in Canada and the USA and extend warm holiday wishes to all.
Canada Announces New Measures to Protect Steel and Lumber Industries (Updated)
Canada has introduced measures to support its steel and lumber industries, including a 25% tariff on certain steel products, reduced freight rates, homebuilding initiatives, and financial aid. On December 12, 2025, steel TRQs under item 82 were updated. The Q3 period starts December 26, with permit applications accepted 15 days prior.
Canada Seeks Input on New Trade Agreement Negotiations
Canada launched public consultations on four free trade agreement negotiations with India, the United Arab Emirates, Thailand, and Mercosur. The consultations support Canada’s export diversification strategy and invite businesses and stakeholders to shape negotiating priorities through submissions open until January 27, 2026.
USTR Issues Section 301 Tariff Action on Nicaragua Starting Jan. 1, 2026
The USTR has announced Section 301 tariffs on Nicaraguan imports due to labor rights, human rights, and rule of law concerns. Effective January 1, 2026, tariffs will phase in over two years for goods not originating under the CAFTA-DR agreement, starting at 0% in 2026 and increasing to 15% by 2028. These measures will stack with existing trade remedies, including the 18% Reciprocal Tariff. Importers should review CAFTA-DR eligibility and plan for compliance with new trade regulations.
USTR Seeks Public Input on USMCA Automotive Rules
The U.S. Trade Representative is requesting public comments on USMCA automotive rules to inform its third biennial review. Feedback will address compliance, regional value content, labor and material requirements, enforcement, and relevance to new technologies, including electric vehicles. Comments are due by January 7, 2026, via the USTR portal.
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