The U.S. Customs and Border Protection (CBP) is currently amassing more than $200 million daily in additional funds due to the enforcement of extensive new tariff measures. President Donald Trump 's "Liberation Day" plan.
“During this administration, CBP has effectively carried out 13 tariff-related executive orders,” stated a CBP representative to FOX Business. “As the front line of defense for our country, CBP rigorously upholds all statutes and presidential instructions to protect our nation’s economic autonomy.”
Leveraging authorities granted by the Trade Expansion Act of 1962 and the International Emergency Economic Powers Act (IEEPA), the Trump administration has set its sights on products originating from numerous nations such as China.
On April 3rd, the U.S. implemented a 25% tariff on all imported passenger cars and light trucks from every nation, followed by an additional 10% tariff on Saturday. global tariff took effect under IEEPA, with certain exclusions, CBP said.
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Beginning April 9, 86 countries will face new reciprocal tariffs ranging from 11% to 50%, with some exclusions, and on May 2, products from China and Hong Kong valued at or under $800 and shipped outside the international postal system will no longer be eligible for duty-free treatment and will be subject to standard duties, according to CBP.
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In the meantime, beginning in May, postal deliveries originating from China and Hong Kong will be subject to a duty of either 30% or $25 per item, with the higher amount being applied. The charge will then go up to $50 per item effective June 1st.
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The CBP mentions that they are collaborating intensively with various agencies to implement these modifications and will maintain communication with the trading community via their online messaging platform.
The agency has already generated billions of dollars. earlier Trump executive orders .
That includes $4.8 billion under EO 14195, which targets synthetic opioids from China ; $861 million allocated through Executive Order 14193, designed to prevent drug trafficking from Canada; more than $2 billion provided via Executive Order 14194, tackling trade problems along the southern border; and $1 billion gathered from tariffs imposed on steel and aluminum under Section 232.
The CBP is ideally situated to carry out and enforce the President's tariffs," stated the CBP spokesperson. "We have all necessary resources and are prepared to gather the due duties.
Tariff rates for particular items can be located in the Harmonized Tariff Schedule of the United States . S.
Original article source: CBP is already gathering 'Liberation Day' duties, generating more than $200 million daily in extra income.