US Firms Hurry to Obtain Exemptions from Import Tariffs Following Pause by Trump.
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Washington's decision to delay import tariffs on goods falling under the U.S.-Mexico-Canada Agreement (USMCA) has led to a surge in U.S. companies seeking exemptions through the trade deal. The temporary relief from the White House imposed fresh 25% tariffs on Canadian and Mexican goods on March 5 but postponed levies on products covered under the USMCA until April 2. Importers are rushing to obtain USMCA certification due to the high risks involved. To be eligible for duty-free status under the USMCA, importers must determine if their goods meet the agreement's requirements by analyzing the bill of materials. Despite the complexity and costs associated with obtaining certification and meeting requirements, businesses are increasingly pursuing USMCA qualification and tariff classification due to the uncertainty of tariff exemptions. The need for companies to assess the option of USMCA certification has arisen as a result of potential significant tariffs being applied.

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