Former Economic Advisor Advisor Tomas Philipson’s office joins ‘after all’ to discuss market decline after President Donald Trump announced his mutual tariffs and more.
Customs and American Border Protection (CBP) is already collecting over $ 200 million a day in extra revenue as it implements a new mass wave of tariffs under President Donald Trump’s “ERITING FREE”.
“CBP has successfully implemented 13 presidential actions related to tariffs during this administration,” a CBP spokesman told a statement to Fox Business. “Serving in the front line of America, the CBP strictly enforces all the presidential laws and directives to ensure our economic sovereignty.”
Using powers under the Law on Trade Expansion of 1962 and the International Law on Emergency Economic Powers (IEPA), the Trump administration is aiming for goods from dozens, including China.
On April 3, the US imposed a 25% fee for all passenger vehicles and light trucks imported from each country, and on Saturday, a 10% global tariff entered into force under IEEPA, with certain exceptions, CBP said.
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President Donald Trump holds a table while giving remarks about reciprocal tariffs during an event in the Rose Garden entitled “Make America Wealthy again” at the White House in Washington, DC, April 2. (Brendan Smialwoski / AFP through Getty Images / Getty Images)
Starting from April 9, 86 countries will face new reciprocal tariffs ranging from 11% to 50%, with some exceptions, and on May 2, products from China and Hong Kong worth or below $ 800 and are sent outside the international post system will no longer be eligible for standard treatment, according to CBP.
Meanwhile, postal deliveries from China and Hong Kong will face a 30% or $ 25th task per item, whatever the biggest, starting in May. This rate will rise to $ 50 per item after June 1st.
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Retired Autoworker Brian Pannebecker from Detroit speaks along with President Donald Trump 2 April outside the White House in the Rose Garden. (Brendan Smialwoski / AFP through Getty Images / Getty Images)
CBP says he is working closely with other agencies to make these changes and will keep the trade community updated through its online messaging system.
The agency has already withdrawn billions from Trump’s early executive orders.
This includes $ 4.8 billion under OE 14195, which aims at synthetic opioids from China; $ 861 million under OO 14193, aimed at stopping drug flows from Canada; over $ 2 billion under OO 14194, addressing trade issues at the southern border; and $ 1 billion collected under Article 232 tasks on steel and aluminum.
President Donald Trump speaks during a trade announcement event “Make the rich America” in the rose garden at the White House. (Andrew Harnik / Getty Images / Getty Images)
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“CBP is uniquely positioned to implement and implement the president’s fees,” the CBP spokesman said. “We are fully equipped and ready to collect tasks that owe them.”
Tariff rates for specific goods can be found in the harmonized schedule of US tariffs
