by Craig Brightup, The Brightup Group —
U.S.-China “30 for 30” Tariff Agreement
In conjunction with September’s summit meeting between President Trump and Chinese President Xi Jinping, the White House announced the two leaders operationalized government-to-government mechanisms of the U.S.-China Board of Trade that was chartered during the May 2026 Summit in Beijing. The U.S.-China Board of Trade was established to optimize bilateral trade between the two nations and consists of government officials from both countries with the U.S. side led by Secretary of the Treasury Scott Bessent and U.S. Trade Representative Jamieson Greer. Under the Board of Trade, the two countries reached consensus on recommendations for more favorable tariff treatment for $30 billion of non-strategic goods in each direction (hence the “30 for 30” reference). For U.S. exports, the goods include agricultural products, fish and seafood, logs and wood products, cosmetics and medical devices. Of particularly importance for IHA members is that for U.S. imports, goods include a number of consumer products including various housewares. Tariff rates on 90% of the products if not all would be subject to much lower “most-favored-nation” levels, meaning country-specific tariffs will effectively be eliminated. The product list can be found here though the U.S. Trade Representative’s (USTR) office has not indicated whether it will formally propose the list with an effective date for public comment or use another method to confirm and implement the list.
U.S.-China Trade Truce and Sec. 301 Vessel Fee Delay
On Sept. 23, Treasury Sec. Scott Bessent announced that the U.S.-China trade truce struck in South Korea last year and set to expire Nov. 10, 2026, would be extended to Jan. 10, 2027. However, there’s been no indication that a suspension of the Sec. 301 vessel fees related to China’s targeting of maritime, logistics, and shipbuilding sectors set to expire on Nov. 9 will also be extended. Therefore, IHA and IHSA signed a coalition letter which can be found here that was sent to USTR and relevant agencies and House and Senate committees, requesting that the suspension of vessel fees be extended to avoid supply chain disruptions and cost increases for imported goods.
Executive Order on “Strengthening Customs Enforcement”
On June 3, 2026, President Trump issued the Executive Order (EO) “Strengthening Customs Enforcement” directing the Dept. of Homeland Security (DHS) and Customs and Border Protection (CBP) to tighten rules for importing products into the U.S. The EO responds to trade data released in February showing a record $112 billion gap between what China reported exporting to the U.S. and what CBP said arrived in 2025, suggesting up to a quarter of what China shipped to the U.S. last year evaded the tariff system. As such, the EO wants CBP to have proposed regulatory changes prepared by November though subsequent rulemakings could extend some timelines. Regardless, CBP will focus on Importer of Record (IOR) structures for foreign IORs; increasing bonding levels and domestic asset positions; enhanced disclosure obligations such as beneficial ownership, business affiliation, and domestic asset information; compliance history for the IOR and its affiliates where a compliance failure by one could impact importer standing for all entities under a corporate umbrella; and greater due diligence obligations for customs brokers. Changes to procedures effective within 180 dates of the EO include prohibiting foreign IORs from using a continuous bond to meet requirements for an entry and validation by the Customs Trade Partnership Against Terrorism (CTPAT), if eligible, or by a CTPAT licensed customs broker to file entries.
