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In Washington, D.C., U.S. Trade Representative Jamieson Greer stops by the Squawk set to discuss trade and tariff strategy. Shortly after news broke of a potential tariff on Brazil, Ambassador Greer references his office's investigations into unfair trade practices. CFTC Chairman Michael Selig is in DC as well, addressing his own role in regulating prediction markets. In corporate news, Anthropic is going public, Google plans to raise $80 billion to fund its AI build-out, short-seller Andrew Left was found guilty of securities fraud, and Senator Bernie Sanders has a pitch for national AI ownership: the American AI Sovereign Wealth Fund Act.    Dan Murphy - 15:37 Jamieson Greer - 20:09 Michael Selig - 29:48   In this episode: Michael Selig, @ChairmanSelig Dan Murphy, @dan_murphy Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Host: Cindy Allen Published: May 29, 2026 Length: ~12 minutes Presented by: Global Training Center Summary In this week's episode of Simply Trade: Cindy's Version, Cindy Allen breaks down one of the most intense stretches yet for the trade community as courts, CBP, and USTR continue reshaping the compliance landscape in real time. Major developments continue around IEEPA litigation, reconciliation filings, CAPE processing issues, and ongoing court scrutiny over liquidated entries and duty refunds. Meanwhile, USMCA renegotiation discussions are beginning to signal potentially significant changes to country of origin requirements, component tracing, and automotive sourcing rules. Inspired by New Romantics, Cindy reflects on the resilience of the trade community through nonstop operational and regulatory change. From brokers and compliance teams to importers and supply chain leaders, the industry continues adapting despite constant disruption. This Week in Trade • The United States Court of International Trade declined to stay its order regarding Section 122 tariff collection while appeals continue • CBP filed guidance related to reconciliation entries and IEEPA duty handling for underlying entries and 09 reconciliation filings • The court ordered the CBP Commissioner to appear at an upcoming June 9 hearing regarding liquidated entries and IEEPA duty resolution • CAPE processing continues moving forward, though brokers and importers are still facing ACE-related filing complications and edit check issues • Office of the United States Trade Representative continues active USMCA renegotiation discussions focused on automotive content, country of origin tracing, and supply chain transparency Main Topic / Discussion This episode focuses heavily on the mounting operational pressure facing the trade community as regulatory, judicial, and enforcement developments continue accelerating simultaneously. Cindy explains that reconciliation filers may soon face difficult timing decisions around underlying entries and 09 filings, especially as CBP and the courts work through how IEEPA duties should ultimately be handled. The upcoming court hearing involving the CBP Commissioner signals that the judiciary is taking a more active role in resolving outstanding liquidation and refund concerns. On the operational side, CAPE continues functioning, but many brokers are encountering filing complications tied to duty stacking logic, tariff line placement, and legacy filing methods that predated clearer CBP guidance and ACE edit checks. The episode also explores how USMCA negotiations are evolving beyond traditional tariff shift and regional value content calculations toward more aggressive component-level tracing and sourcing visibility requirements—particularly targeting concerns over Chinese components entering through Mexico. Key Takeaways • IEEPA litigation and reconciliation guidance continue evolving rapidly • The June 9 court hearing could significantly impact duty refund handling and liquidated entries • CAPE is operational, but ACE and filing correction challenges remain significant • CBP help desk delays are creating operational strain across the trade community • USMCA renegotiation discussions may fundamentally change future country of origin compliance requirements • Trade professionals continue adapting despite relentless regulatory change Resources & Mentions • Global Training Center • Trade Force Multiplier Credits Host: • Cindy Allen – LinkedIn Producer: • Lalo Solorzano – LinkedIn

This week the United States and Mexico begin formal talks leading up to the formal joint USMCA review in July. USTR signals that tariffs will remain in place as long as the US continues to run a trade deficit with its North American partners.

APR President and CEO Steve Alexander joins Recycled Content to discuss APR's testimony before the Office of the United States Trade Representative and how low-priced imports are impacting domestic recyclers. Steve and Kara explore policy solutions, PCR certification, and why global conflict is not a long-term answer for the recycling industry.

This week on Face the Nation. Back in the US following a whirlwind diplomatic mission to China, President Trump faces backlash here at home when it comes how he's handling the economy While the reviews for the President's trip to China -- and details about the deliverables from the meeting of the world's two biggest economic superpowers -- are still coming in, it's Mr. Trump's efforts on the domestic economy that are getting panned at home.The administration's messaging on the economy and new numbers showing the fastest increase in the inflation rate in three years have Republicans increasingly concerned about the party's chances in the midterm electionsWe hear from the President's top trade representative, Jamieson Greer, plus Taiwan's Representative to the US as well as the heads of the bipartisan Problem Solvers Caucus in the House, Pennsylvania Republican Brian Fitzpatrick and New York Democrat Tom Suozzi.  Plus, former Defense Secretary Robert Gates also joins us to discuss the threats America faces. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Speak now or forever hold your peace. USTR seeks input on its review of the necessity for the China Section 301 tariffs on goods in Lists 1 and 2. Listen for more on Two Minutes in Trade. 

Vietnam is getting Priority Status - but it's not the benefit you might think. Listen for more on Two Minutes in Trade

Farmers indicated a more challenging outlook in the latest Ag Economy Outlook Barometer. Iowa Soybean farmer Dave Walton testified before a USTR hearing today saying trade sanctions have proven to cost farmers global markets. Walton is hopeful soybeans are included in the upcoming trade summit with President Trump and Chinese leader Xi later this month. 

Host: Cindy Allen Published: May 2026 Length: ~12 minutes Presented by: Global Training Center Trade Complexity, CAPE Rejections, and Why “Happiness” Fits the Moment In this episode of Simply Trade: Cindy's Version, Cindy Allen steps back from the usual CAPE-only focus to look at the broader trade landscape, from AGOA comments and EU sanctions to OFAC changes, DOJ enforcement, and shipping developments at the FMC. She also discusses the latest CAPE refund updates, including rejection rates, sequencing issues, and the practical steps importers need to take if their entries were filed before guidance was finalized. Using Taylor Swift's “Happiness” as her theme, Cindy reflects on the complexity of the current trade environment and why both frustration and optimism can exist at the same time. What You'll Learn in This Episode AGOA and global policy updates Cindy highlights the USTR's request for comments on AGOA and notes the upcoming expiration deadline at the end of the year. She also touches on revised EU sanctions against Russia and changes in OFAC contracting for sanctioned entities in oil and gas. DOJ enforcement and supply chain risk The conversation covers the DOJ's plywood fraud case and the importance of supply chain diligence, willful blindness, and origin tracing. Cindy emphasizes that buyers need to know who they are dealing with and where goods actually come from. Shipping and market pressure Cindy discusses the FMC's record award involving OOCL and Bed Bath & Beyond, as well as the continuing Strait of Hormuz blockage and its impact on oil, gas, and jet fuel availability. These developments show how trade, shipping, and geopolitics are all connected. CAPE refund complexity The biggest portion of the episode focuses on CAPE refund rejections, especially “unable to calculate duty” and sequencing errors. Cindy explains why importers should work closely with their brokers, review PSCs where necessary, and understand how ACE reports and tariff timing affect eligibility. The meaning of “Happiness” Cindy uses Taylor Swift's “Happiness” to reflect the emotional complexity of trade right now. She notes that the industry is experiencing both frustration and opportunity, and that there may be happiness after this difficult season as trade professionals continue to play a bigger role. Credits Host: Cindy Allen Presented by: Global Training Center   Subscribe & Follow Stay up to date with the latest in global trade:

The House Rules Committee continues to consider amendments to the Agriculture Committee's farm bill proposal. Follow Kim Chipman's coverage at www.agri-pulse.com. NCGA leaders say they need a farm bill and E15 legislation. ASA testified before the USTR's Section 301 hearing on international trade. 

Ag Secretary Brooke Rollins and U.S. Trade Representative Jamieson Greer assured lawmakers the administration is both aware of and working to help struggling farmers.

On this episode of the Trade Guys, Bill and Scott give an update on the launch of the tariff refund process. They also discuss the U.S. "Trade Over Aid" initiative and break down U.S. Trade Representative Jamieson Greer's congressional testimony on the administration's trade agenda.

USTR Greer was in the hot seat today as he appeared before Congress to lay out the 2026 trade agenda, where he highlighted that tariffs are not going away, enforcement is a priority, and trade policy will continue to be reshaped following the IEEPA Supreme Court Ruling.

President Trump plans to visit China next month and his U.S. Trade Representative Jamieson Greer spoke recently about what to expect from the summit.

O ataque dos Estados Unidos e de Israel ao Irã congelou de imediato a reaproximação diplomática que Lula e Trump vinham construindo lentamente desde o fim de 2025. Com Washington inteiramente absorvida pela guerra no Oriente Médio, temas comerciais centrais para o Brasil, como tarifas e acesso ao mercado americano, foram empurrados para um limbo sem prazo de saída. O resultado é um vácuo que custa caro aos dois países, justamente no momento em que mais dependem um do outro. Aqueles que vêm acompanhando a trajetória das relações Brasil-Estados Unidos nos últimos dois anos assistiram a uma verdadeira montanha-russa. Saímos de um período de hostilidade explícita, marcado por tarifas de até 50% e sanções direcionadas a ministros do STF, para uma reaproximação cautelosa que, em janeiro de 2026, parecia finalmente ter encontrado um trilho relativamente estável. Lula e Trump voltaram a se falar por telefone, discutiam Venezuela sem trocas públicas de ataques, e a Casa Branca já havia retirado as sanções contra o ministro Alexandre de Moraes. A visita de Lula a Washington estava agendada para a segunda quinzena de março. Havia até a previsão de um fórum sobre carne bovina brasileira no mercado americano. Tudo indicava que, enfim, os adultos haviam retomado o controle da sala. No dia 28 de fevereiro de 2026, Estados Unidos e Israel lançaram ataques coordenados contra o Irã e o sistema internacional virou a página de forma abrupta. O Brasil condenou os bombardeios. O Irã respondeu com ataques a bases americanas no Golfo. O Estreito de Ormuz, por onde passa cerca de 20% do petróleo marítimo global, foi efetivamente fechado. O Brent ultrapassou os US$ 100. No Brasil, o preço do diesel disparou 45% em apenas 11 dias. Lula reagiu cortando impostos federais sobre combustíveis e criando uma taxa sobre exportações de petróleo bruto para conter o repasse ao consumidor. E a viagem a Washington? Adiada por tempo indeterminado. O (agora ex) ministro da Agricultura, Carlos Fávaro, resumiu o espírito do momento com precisão quase lacônica: Lula havia solicitado sua presença na viagem, cujo foco seria a negociação de tarifas agrícolas, mas “em razão da guerra, a viagem foi adiada”. Sem ruptura, sem drama diplomático. Apenas a constatação silenciosa de que negociar detalhes comerciais no meio de uma conflagração global, ainda mais com o interlocutor diretamente envolvido na escalada, beira o descolamento da realidade. Da distensão ao congelamento diplomático Esse congelamento não é trivial. A relação Lula-Trump vinha numa trajetória surpreendentemente construtiva. Após meses de tensão provocados pelo caso Bolsonaro, incluindo tarifas punitivas, sanções contra um ministro do STF e pressões retóricas sobre “eleições livres”, Trump mudou o tom a partir de setembro de 2025. No encontro com Lula na Assembleia Geral da ONU, falou em “excelente química”. Em outubro, na reunião bilateral durante a cúpula da ASEAN em Kuala Lumpur, Lula classificou o encontro como “ótimo”, enquanto o chanceler Mauro Vieira afirmou que equipes técnicas começariam a trabalhar “imediatamente”. Em novembro, Washington removeu sobretarifas de 40% sobre diversos produtos agrícolas brasileiros. Em dezembro, suspendeu as sanções contra Moraes. Em janeiro, uma conversa de 50 minutos entre os presidentes abordou inclusive o “Board of Peace” de Trump para Gaza, com Lula sugerindo, sem atrito, a inclusão de espaço político para a Palestina. Era o tipo de divergência funcional típica de parceiros, não de adversários. Não por deterioração bilateral, mas porque Washington passou a operar em modo quase exclusivo de guerra no Oriente Médio. O resultado foi um vácuo. E esse vácuo tem custo. O nó tarifário que ninguém consegue desatar Para compreendê-lo, é preciso olhar o que ficou paralisado. Em fevereiro de 2026, a Suprema Corte dos Estados Unidos declarou inconstitucionais, por 6 a 3, as tarifas impostas por Trump sob o IEEPA. Foi uma vitória relevante: as tarifas punitivas de 40% contra o Brasil, motivadas pela crise Bolsonaro, caíram. Mas a reação da Casa Branca foi imediata. Utilizando a Seção 122 do Trade Act de 1974, a administração implementou uma tarifa global de 15% sobre todos os países, incluindo o Brasil. Paralelamente, permanecem as tarifas setoriais baseadas nas Seções 232 (segurança nacional, aço e alumínio) e 301 (práticas comerciais desleais). Além disso, seguem abertas investigações do USTR contra o Brasil, incluindo temas como propriedade intelectual, etanol e desmatamento. O resultado é um emaranhado tarifário que ninguém, neste momento, tem capacidade política de desatar. Exportadores brasileiros já sentiram o impacto. As vendas de café para os Estados Unidos caíram 50% entre agosto e novembro de 2025, durante o pico tarifário. Mesmo com a posterior redução, o dano foi estrutural: o Brasil redirecionou fluxos para China e Ásia, enquanto importadores americanos passaram a pagar mais por alternativas de menor qualidade. A Suzano continua pagando tarifas sobre celulose exportada aos EUA. Frigoríficos brasileiros, que exportaram US$ 885 milhões em carne bovina em 2024, enfrentam simultaneamente barreiras tarifárias americanas e disrupções logísticas causadas pelo fechamento do Ormuz. Exportadores de suco de laranja (US$ 637 milhões) e o setor siderúrgico (US$ 4,9 bilhões em aço semiacabado) enfrentam dinâmica semelhante. Mas há um ponto pouco explorado: essas tarifas também penalizam os Estados Unidos. O custo econômico do vácuo político Refinarias como Valero e Marathon dependem crescentemente do petróleo bruto brasileiro para misturar com o shale oil mais leve. Tarifar esse insumo eleva custos internos. Siderúrgicas americanas utilizam ferro-gusa brasileiro de alto carbono; tarifas aumentam o custo da produção doméstica de aço. O setor de etanol dos EUA perdeu espaço no Brasil após retaliação silenciosa de Brasília, que elevou tarifas sobre o produto americano. E, em meio ao choque energético provocado pela guerra com o Irã, o encarecimento de café, suco de laranja e insumos industriais brasileiros adiciona pressão inflacionária à economia americana. A visita de Lula a Washington, agora adiada, colocaria exatamente essas questões na mesa. O fórum sobre carne bovina funcionaria como vitrine de ganhos mútuos. Havia espaço político para ampliar isenções tarifárias agrícolas. A Suprema Corte havia retirado da equação o instrumento mais agressivo da guerra comercial de Trump. E a relação pessoal entre os dois presidentes estava no melhor momento em meses. Faltava, literalmente, executar. A janela perdida e os riscos eleitorais de 2026 Agora, com o capital político de Washington consumido pela guerra, essa janela se fechou – e não há garantia de reabertura no curto prazo. As tarifas sob a Seção 122 expiram em julho de 2026, mas o cenário pós-expiração é incerto. Sem renovação pelo Congresso, Trump pode recorrer a instrumentos ainda mais agressivos e juridicamente robustos. Se o conflito com o Irã se prolongar, com o petróleo estabilizado acima de US$ 100, a pressão inflacionária reduzirá ainda mais o apetite por concessões comerciais. Há ainda o fator eleitoral brasileiro. As eleições de outubro de 2026 se aproximam, com pesquisas indicando empate técnico entre Lula e Flávio Bolsonaro. Uma visita bem-sucedida a Washington, com resultados concretos em comércio, teria alto valor político doméstico, algo que Trump compreende perfeitamente. Episódios recentes, como a tentativa de envio de Darren Beattie ao Brasil e seu subsequente veto, mostram que, apesar da cordialidade presidencial, as tensões ideológicas permanecem latentes. A guerra apenas adiciona mais uma camada de complexidade a uma relação já estruturalmente sensível. O que está em jogo é concreto: cerca de US$ 127 bilhões em intercâmbio bilateral de bens e serviços (dados de 2024). Os Estados Unidos mantêm superávit nessa relação, o que sugere que, do ponto de vista estritamente econômico, têm mais a perder com uma deterioração prolongada. Ao mesmo tempo, o Brasil depende fortemente de fertilizantes importados, com cerca de 50% transitando pelo Estreito de Ormuz. Uma disrupção prolongada afeta diretamente a safra brasileira e, por extensão, os preços globais de alimentos,  retroalimentando a inflação americana. O paradoxo é claro. Brasil e Estados Unidos precisam um do outro mais do que em qualquer momento recente. E é justamente agora que o diálogo entrou em suspensão. Diplomacia é, em essência, a arte de manter múltiplos pratos girando simultaneamente. Quando um conflito militar domina completamente a mesa, os demais caem. Empresas brasileiras dependentes do mercado americano e setores produtivos americanos dependentes de insumos brasileiros já estão absorvendo os custos de uma guerra da qual não são parte. Esse é o tipo de dano colateral que não aparece nos briefings do Pentágono, mas que se materializa no preço do café em Nova York e no custo do fertilizante em Mato Grosso. Quando (e se) essa guerra terminar, Lula e Trump terão que retomar o diálogo com urgência ampliada e tempo comprimido. O relógio tarifário avança. O relógio eleitoral brasileiro avança ainda mais rápido. E o mundo pós-conflito será um ambiente de cadeias produtivas redesenhadas, rotas comerciais alteradas e alianças mais rígidas.

Confira os destaques do Jornal da Manhã dessa quinta-feira (02): O presidente dos Estados Unidos, Donald Trump, afirmou em pronunciamento nesta quarta-feira (1º) que os objetivos militares da guerra contra o Irã estão próximos de serem atingidos. “Tenho o prazer de informar que esses objetivos estratégicos fundamentais estão quase concluídos”, declarou. Segundo ele, as ações visam impedir ataques contra os EUA e limitar a capacidade militar iraniana. Trump também afirmou que poderá atacar a infraestrutura de energia do Irã caso não haja acordo. “Vamos atacá-los com extrema força nas próximas duas ou três semanas. Vamos trazê-los de volta à Idade da Pedra, de onde vieram”, disse. O Senado se prepara para analisar a indicação de Jorge Messias ao Supremo Tribunal Federal. A discussão ocorre em meio ao desgaste na relação entre o Planalto e o Congresso, que pode influenciar o diálogo durante o processo. O Banco de Brasília (BRB) está buscando apoio financeiro de instituições federais, incluindo o Banco do Brasil, após registrar prejuízos relacionados à liquidação do Banco Master. A movimentação faz parte de um plano de socorro diante de um rombo bilionário. A tripulação da missão Artemis II, da NASA, alcançou a órbita terrestre em 1º de abril de 2026 após o lançamento com o foguete SLS. A cápsula Orion se separou do veículo cerca de oito minutos após a decolagem, conforme o planejado. Os quatro astronautas realizam testes enquanto permanecem em órbita. A missão seguirá em direção à Lua nesta quinta-feira (02). O vice-presidente Geraldo Alckmin presidiu a 322ª reunião do Conselho da Suframa e aprovou 83 projetos industriais e de serviços. Os investimentos somam R$ 1,17 bilhão, com faturamento projetado de R$ 7,29 bilhões. A estimativa é de criação de 2.880 empregos diretos na região. A reunião ocorreu em 30 de março de 2026, antes da saída do ministro para as eleições. O ministro Alexandre de Moraes marcou para 14 de abril o interrogatório do ex-deputado Eduardo Bolsonaro na ação penal por coação no curso do processo. O depoimento será realizado por videoconferência. Eduardo está nos Estados Unidos desde o ano passado e perdeu o mandato por faltas na Câmara. Segundo a decisão, ele não é obrigado a participar da audiência. O governo dos Estados Unidos voltou a criticar o sistema de pagamentos Pix e políticas regulatórias do Brasil para big techs em relatório divulgado pelo Escritório do Representante de Comércio (USTR). O documento foi publicado nesta terça-feira (31) e retoma pontos já citados sobre barreiras comerciais a produtos americanos. O relatório também menciona investigações comerciais envolvendo o Brasil. O governo federal deve enviar ao Congresso, em regime de urgência, um projeto de lei que prevê o fim da escala 6x1 e estabelece jornada de 40 horas semanais. A proposta deve ser apresentada nos próximos dias. Segundo integrantes do Planalto, a decisão foi tomada para acelerar a tramitação do tema. O Irã afirmou que continuará a guerra contra Estados Unidos e Israel “até a rendição e o arrependimento permanente do inimigo”. A declaração foi feita nesta quinta-feira (02) em resposta às falas do presidente Donald Trump. Em discurso, Trump havia ameaçado intensificar os ataques nas próximas semanas e atingir a infraestrutura energética iraniana. Teerã também disse que fará “ataques devastadores” contra seus rivais. Para falar sobre o assunto, a Jovem Pan entrevista Priscila Caneparo, doutora em direito internacional. Essas e outras notícias você acompanha no Jornal da Manhã. Learn more about your ad choices. Visit megaphone.fm/adchoices

Host: Lori Mullins Guests: Rich Roche, Ashley Craig Series: NCBFAA Quarterly Podcast – Transportation Committee Focus Published: March 2026 Length: ~40 minutes Presented by: National Customs Brokers & Forwarders Association of America (NCBFAA) in partnership with Simply Trade​ NCBFAA Transportation Committee: Strait of Hormuz, FMC, and Shipping Risk in 2026 In this NCBFAA quarterly episode, social media director and licensed customs broker Lori Mullins sits down with Rich Roche, Senior Vice President at Mohawk Global Logistics and NCBFAA NVOCC Chair, and Ashley Craig, partner at Venable LLP and outside Transportation Counsel to NCBFAA, for a deep dive on the work of the NCBFAA Transportation Committee in a rapidly changing risk environment.​ The conversation focuses on how the Transportation Committee is engaging with regulators—especially the Federal Maritime Commission (FMC)—and monitoring global chokepoints like the Strait of Hormuz to protect brokers, forwarders, and NVOCCs.​ Inside the NCBFAA Transportation Committee's Agenda FMC leadership and priorities Rich explains the “new season” at FMC under Chair Laura DiBella, with NCBFAA meeting her on day one and tracking the confirmation of additional commissioners to get the agency to full strength.​ The committee is watching FMC's expanded role, including analyzing global “choke points” (like the Iran conflict and Spanish embargo actions) and supporting efforts to close the harbor maintenance fee loophole for cargo routed via Canada and Mexico.​ Strait of Hormuz and global chokepoints Ashley breaks down why the Strait of Hormuz—only about 20 nautical miles wide and dominated geographically by Iran—remains one of the most critical choke points in global energy and trade, carrying roughly 60% of petroleum productsexiting the region.​ Rich details current impacts: hundreds of tankers and cargo vessels effectively stopped or trapped, export bookings halted, and knock-on effects on fuel availability for airlines and ocean carriers, particularly in Asia.​ Legal and commercial risk: surcharges, notice, and the Shipping Act Ashley walks through how tensions translate into war risk surcharges and emergency contingency charges from major carriers (Maersk, CMA, Hapag-Lloyd, MSC, ONE), and the critical 30‑day notice requirement under the Shipping Act for U.S. trades—plus how “special permission” filings at the FMC can accelerate those timelines.​ The Transportation Committee is monitoring FMC guidance reminding carriers and NVOCCs of their obligations to publish and adhere to filed rates, and educating members on when to go to FMC vs. resolving disputes under service contracts or through courts/ADR.​ Export controls and NCBFAA's export subcommittee work Ashley highlights the work of the NCBFAA Export Subcommittee, which sits under the Transportation Committee and has collaborated with BIS on the Freight Forwarder Best Practices (now live on the BIS site).​ The committee is tracking evolving sanctions and export controls on Iran and third‑party intermediaries, stressing regular checks of the U.S. consolidated screening lists and ongoing engagement with BIS, OFAC, and other agencies.​ Insurance, force majeure, and contract readiness From a legal and practical standpoint, Ashley urges members to review war risk underwriting, force majeure language, and service contracts now—especially for cargo stuck in the Gulf region—to avoid unmanaged detention/demurrage and misaligned risk allocation.​ The Transportation Committee is encouraging proactive dialogue with carriers and underwriters, not just reactive claims once disruptions surface.​ Energy markets, surcharges, and downstream costs The episode covers how rising oil prices (already over USD 100/barrel with potential to go higher) drive up bunker costs, trigger higher bunker and emergency surcharges, and ultimately raise total transportation costs for shippers and NVOCC customers.​ Policy horizon: tariffs, ship taxes, and Jones Act talk Ashley notes the administration's heavy focus on maritime policy, new and potential 232/301 investigations, a 301 forced labor inquiry touching over 60 trading partners, and proposals like a “universal ship tax” and land border fee that NCBFAA and peer associations are actively reviewing.​ The committee is also watching discussions around Jones Act waivers for energy flows and coordinating with other trade associations (NITL, World Shipping Council, NRF, NAM, U.S. Chamber) to present a unified industry position.​ Why This Matters for NCBFAA Members Throughout the episode, Lori, Rich, and Ashley underscore the resilience of the brokerage and forwarding community and the central role of NCBFAA—especially the Transportation Committee and its export subcommittee—in: Interpreting fast‑moving developments at choke points like the Persian Gulf. Engaging directly with FMC, BIS, Treasury, USTR, and Congress. Providing practical guidance on surcharges, notice rules, contracts, underwriting, and compliance expectations.​ Lori closes by inviting non‑members to join NCBFAA and tap into its toolkits, best practices, and ongoing advocacy, and reminding listeners that this is part of a quarterly NCBFAA podcast series focused on the committees' work on behalf of the trade. Subscribe & Follow Stay connected with the Simply Trade Podcast: Global Training Center LinkedIn YouTube Spotify Apple Podcasts Trade Geeks Community ​

APAC stocks were mostly subdued, with the region cautious amid headwinds from the recent double-digit surge in oil prices.US officials noted they said from the start the war would last 4-5 weeks and may end in 2 weeks, with the decision up to Trump.US Treasury Secretary Bessent told Sky News an international coalition could protect ships in the Strait of Hormuz.USTR announced to initiate 60 Section 301 investigations related to failures to act on forced labour.European equity futures indicate a mildly higher cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with losses of 0.8% on Thursday.Looking ahead, highlights include German Wholesale Prices (Feb), UK Trade Balance (Jan), GDP (Jan), French/Spanish HICP Final (Feb), Canadian Jobs Report (Feb), US Core PCE Price Index (Jan), Durable Goods Orders (Jan), Personal Spending (Jan), JOLTS (Jan), University of Michigan Consumer Sentiment Prelim. (Mar), Atlanta Fed GDP. Rating updates include Scope Ratings on UK & Spain, S&P on Spain, Moody's on Greece & Germany, Fitch on Spain & Italy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

A review of the week's major US international tax-related news. In this edition:  US Treasury unlikely to issue 'Green Book' with FY'27 Budget – Congressional Republicans debate budget reconciliation legislation option – US official discusses Pillar One and coming OECD Pillar Two guidance – USTR begins 76 Section 301 investigations of US trading partners – US Border Customs describes IEEPA refund claims.

Wasting no time. USTR launches a Section 301 investigation on the EU + 15 other countries for "overproduction" and "excess capacity". Listen for more on Two Minutes in Trade. 

Host: Cindy Allen Show: Simply Trade – Cindy's Version Published: March 6, 2026 Length: ~13 minutes Presented by: Global Training Center Ready For It? CBP's IEEPA Refund Proposal Drops—Here's What's Next Cindy Allen, CEO of TradeForce Multiplier, dives into the latest trade developments through Taylor Swift's “Ready For It?”—perfect for the “let the games begin” drama unfolding in IEEPA refund hearings. From DHS shakeups and Section 122 lawsuits to CBP's just‑filed refund blueprint, Cindy unpacks the mechanics, open questions, and what importers/brokers should do now.​ What You'll Learn in This Episode DHS leadership change Secretary Noem removed; scuttlebutt suggests more exits at DHS/CBP headquarters. New nominee: Oklahoma senator with broad congressional/President support (not yet formal).​ Section 122 tariff challenges 24 states sue in Court of International Trade, arguing Section 122 doesn't meet “imbalance of payments” requirement for universal tariffs. Commerce Secretary Besant hints at 15% rate hikes for specific industries, potentially violating Section 122's uniform application rule—no movement yet (as of Friday afternoon).​ USMCA signals Congress supports extension, but President has final say. Discussions on trilateral vs. bilateral (U.S.–Canada, U.S.–Mexico); some push for 1‑year extension to renegotiate post‑tariff chaos.​ Global disruptions Iran war halts Strait of Hormuz traffic, backing up oil tankers and vessels reliant on that fuel—broad transportation ripple effects.​ USTR advisory opportunity Nominations open for 4 USTR trade advisory groups (separate from COAC)—check Federal Register notices. Chance to influence policy, build government/industry relationships.​ Why “Ready For It?” Cindy channels Taylor Swift's “Ready For It?” for the IEEPA refund “dating game” between DOJ, CBP, and CIT: Federal Circuit rejected government's 90‑day delay request, remanded immediately to CIT. CIT hearing (March 4) was “entertaining” bickering—judge ruled no suit needed for non‑final entries and ordered CBP to liquidate without IEEPA duties. CIT conference (March 6, closed): CBP filed a refund proposal.​ CBP's IEEPA Refund Proposal Breakdown How it would work: Importers file ACE declaration with Excel list of affected entries. ACE runs validations, auto‑recalculates IEEPA refund. CBP verifies declaration accuracy. ACE auto‑liquidates; CBP certifies; Treasury issues refunds (as normal). Estimated 45 days for CBP programming.​ Open questions: Entry updates: ACE is system of record—will underlying entry summaries be corrected? (Critical for protests, PSCs, reconciliation, drawback.) Broker involvement: ABI required? Broker systems need programming? Push/pull updates? Reconciliation: How handled in bulk process? PSC/audit impact: Can filers still correct misclassifications post‑bulk liquidation? (Protests harder than PSC.) Liquidation halt: CBP questions authority to pause during 45‑day programming (hundreds of thousands liquidated March 6).​ Key Takeaways CIT has jurisdiction; expect CBP proposal review/dialogue—trade associations pushing entry updates. Programming delays + ABI sync = potential months before refunds flow. Liquidation is automatic unless stopped—monitor your entries closely. “Let the games begin”—are you ready for the IEEPA refund process?​ Credits Host: Cindy Allen Producer: Annik Sobing  Listen & Subscribe Simply Trade main page: https://simplytrade.podbean.com​ Apple Podcasts: https://podcasts.apple.com/us/podcast/simply-trade/id1640329690​ Spotify: https://open.spotify.com/show/09m199JO6fuNumbcrHTkGq​ Amazon Music: https://music.amazon.com/podcasts/8de7d7fa-38e0-41b2-bad3-b8a3c5dc4cda/simply-trade​ Connect with Simply Trade Podcast page: https://www.globaltrainingcenter.com/simply-trade-podcast​ LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast​ YouTube: https://www.youtube.com/@SimplyTradePod​ Join the Trade Geeks Community Trade Geeks (by Global Training Center): https://globaltrainingcenter.com/trade-geeks/  

Déjà vu with a mandate: USTR's muscular 2026 trade agenda doubles down on more to come. Listen for more info on Two Minutes in Trade. 

The USTR says 301 investigations on various topics will begin within days. These country-specific tariffs, along with the 232 product-specific tariffs, are meant to provide "continuity" for the IEEPA level tariffs. We discuss what investigations might be forthcoming and the longer path that could lead to new tariffs.  

After years of trade skepticism, India appears to be back in the deal-making business—signing new agreements, reviving stalled talks, and announcing ambitious frameworks with key bilateral partners. A few weeks ago, the European Union and India announced a mega-trade deal that was more than two decades in the works. And just days after this news broke, the White House announced that the United States had also reached an understanding with India on trade, an issue which had sapped relations between the two erstwhile partners over the past year.To help make sense of what's changed—and what hasn't—Milan is joined on this show this week by Mark Linscott. Mark is a nonresident senior fellow on India at the Atlantic Council and a Senior Advisor with The Asia Group. He previously served as the assistant US trade representative for South and Central Asian Affairs from 2016 to 2018. He has more than 30 years of experience working on trade and economic issues at the Commerce Department and USTR. It is my pleasure to welcome him to the show for the very first time.Milan and Mark discuss India's new external trade posture, the geopolitics and economics of the EU-India FTA, and the timing and substance of India's trade deal with the United States. Plus, the two discuss India's relative positioning vis-à-vis other Asian competitors and the possible roadblocks in the way of a larger U.S.-India accord.Episode notes:Ravi Dutta Mishra, “How India's US deal tariff advantage over Bangladesh vanished overnight,” Indian Express, February 10, 2026.Arvind Subramanian, “India may be about to become one of the world's most open economies,” The Economist, February 5, 2026.Michael Kugelman and Mark Linscott, “What to know about the US-India trade deal,” Atlantic Council “Dispatches” blog, February 2, 2026. “Can the U.S. Salvage Its Relationship with India? (with Lisa Curtis),” Grand Tamasha, February 4, 2026.Michael Kugelman and Mark Linscott, “The India–EU trade deal is worth watching, but not overhyping,” Atlantic Council “Dispatches” blog, January 27, 2026. 

Host: Cindy Allen Show: Simply Trade – Cindy's Version Published: February 13, 2026 Length: ~15 minutes Presented by: Global Training Center State of Grace: Tariffs, First Sale Under Fire, and a Glimmer of Stability In this episode of Cindy's Version, Cindy Allen, CEO of TradeForce Multiplier, walks through another busy week in global trade and ties it to Taylor Swift's “State of Grace”—focusing on the idea that, despite the shock of recent policy shifts, this is still a “worthwhile fight” for trade professionals. From new trade deals to challenges against tariff policy and first sale threats, Cindy explains what's changing and where there are signs of hope.​ What You'll Learn in This Episode New trade deals and tariff shifts A U.S.–Taiwan deal capping total tariffs at 15% (either limiting MFN above 15% or applying 15% where MFN is lower). Details emerging on agreements with Guatemala, El Salvador, Argentina, and an India deal rolling back some reciprocal tariffs tied to India's Russian oil purchases.​ Where to find official text and specifics: USTR's website.​ Border infrastructure and electronic bonds The administration's threat to block the opening of the long‑planned Gordie Howe Bridge between Detroit and Ontario over funding/ownership disputes, and why Canada and Michigan intend to proceed regardless. How this new public crossing will compete with the privately owned Ambassador Bridge for billions in daily cross‑border trade.​ CBP's move to mandate electronic surety bond filing for all bonds, formalizing what many brokers, importers, and sureties already do—and why Cindy strongly supports it.​ Section 232 guidance softens (slightly) New CBP guidance on 232 tariffs for steel, aluminum, and copper, dialing back earlier aggressive interpretations. Trade groups have received written clarification allowing certain labor/overhead costs to be prorated into steel/aluminum values instead of fully loaded, even as petitioners continue to argue that none of those costs should be included. Why importers should review the latest guidance carefully, track affected entries, and monitor the ongoing Court of International Trade challenge.​ USMCA and IEPA signals from Capitol Hill Senate Finance Committee signaling support for extending USMCA, seeking stability before any renegotiation, while the administration is rumored to prefer separate bilateral deals with Canada and Mexico.​ The House vote to end IEPA duties on Canada for certain non‑USMCA goods—a positive step toward predictability, though the bill still must clear the Senate and avoid a presidential veto.​ First sale under threat Introduction of a bill to eliminate first sale, driven by some of the same groups that pushed to curtail de minimis and oppose duty‑reducing mechanisms generally. Why this is significant: many large importers rely on first sale, provide extensive upstream data to CBP, and enable deeper supply‑chain visibility and risk management. Trade associations have already begun weighing in to defend first sale; Cindy flags this as a fight to watch closely.​ EU deal conditions and a big auto bill The EU moving its U.S. tariff deal through lawmakers but adding elements like sunset deadlines and “security triggers” that go beyond earlier negotiating language.​ Ford announcing an expected 900 million dollar 232‑related tariff hit after previously anticipated automotive offsets were disallowed for several months—raising questions about how other automakers will fare and whether Ford might push back through protests or litigation.​ Global trade up, U.S. trade down Conference insights from Manifest: global trade volumes are rising overall, but trade into the U.S. is declining, as exporters pivot to other markets they perceive as less costly and less complex. This trend aligns with a surge in trade deals worldwide that do not include the U.S.​ Why “State of Grace”? Cindy connects the week's developments to Taylor Swift's “State of Grace,” highlighting the line: “I never saw you coming and I'll never be the same. This is a state of grace, this is a worthwhile fight.” She uses this to frame: How studies now confirm what many suspected—U.S. consumers have already paid roughly 1,000 dollars more due to tariffs, with an additional 1,300 dollars expected in the coming year. How tariffs are hitting companies and rural communities: constrained exports for U.S. agriculture, rising small‑farm bankruptcies, and knock‑on impacts to local economies. Research showing that about 90% of tariff costs are passed from suppliers to U.S. importers, then to consumers, and even to manufacturers who never import directly but rely on tariff‑burdened inputs.​ Despite this, she sees reasons for cautious optimism: Companies challenging IEPA and 232 in court. Large players like Ford publicly quantifying tariff impacts. Congress beginning to reassert its constitutional role over tariffs and question security‑based justifications used as broad economic tools. Early, coordinated pushback against eliminating first sale—stronger than what was seen around de minimis.​ For Cindy, these developments suggest the industry may be entering a state of grace—a moment where data, legal challenges, and coordinated advocacy start to rebalance the conversation and make the fight for smarter trade policy worth it.​ Credits Host: Cindy Allen Producer: Annik Sobing Presented by: Global Training Center Sponsor: PAX AI ​ Listen & Subscribe Simply Trade main page: https://simplytrade.podbean.com​ Apple Podcasts: https://podcasts.apple.com/us/podcast/simply-trade/id1640329690​ Spotify: https://open.spotify.com/show/09m199JO6fuNumbcrHTkGq​ Amazon Music: https://music.amazon.com/podcasts/8de7d7fa-38e0-41b2-bad3-b8a3c5dc4cda/simply-trade​ Connect with Simply Trade Podcast page: https://www.globaltrainingcenter.com/simply-trade-podcast​ LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast​ YouTube: https://www.youtube.com/@SimplyTradePod​ Join the Trade Geeks Community Trade Geeks (by Global Training Center): https://globaltrainingcenter.com/trade-geeks/

Sara Eisen & David Faber kicked off the hour with a look at consumer affordability ahead of some key White House events today around the topic - before breaking down the market picture with Trivariate's Adam Parker, along with one tech analyst who says investor sentiment hasn't been this negative on software in a decade.  Plus: alternative energy stocks jumping as a key group reportedly meets at the White House today to talk about AI power - hear the latest reporting, this hour... and a deep-dive on the Administration's newest push on auto affordability in a wide-ranging all-star interview you don't want to miss with Transportation Sec. Sean Duffy, the head of the EPA Lee Zeldin, and USTR's Jamieson Greer.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dry bulk shipping went into 2026 in stronger than expected position, but will the market hold up?In the third part of our shipping market outlook series, we are focusing on the dry bulk sector with Will Fray, a Director of Maritime Strategies International (MSI).Speaking about the dry bulk market in 2025 to the Seatrade Maritime Podcast resilience is the word that Will uses.By this he means resilience to various external factors such as tariffs and the now suspended USTR port fees on Chinese built and owned vessels and on fundamental basis that the fleet grew by 3% but demand only grew by 0.5% in terms on tonnes traded. “So, it's quite remarkable that dry bulk earnings only fell by around 10% year on year,” he says.Listen to the full episode to find out where the markets are headed.If you enjoyed this episode, please subscribe to ensure you don't miss our latest uploads. For the latest news on the shipping and maritime industries, visit www.searade-maritime.com.Connect with Marcus Hand, Editor of Seatrade Maritime News:Follow on Twitter: https://twitter.com/marcushand1 Follow on LinkedIn: https://www.linkedin.com/in/marcus-hand-b00a317/Don't forget to join the conversation and let us know what topics you want us to cover in future on Twitter, Facebook or LinkedIn

A review of the week's major US international tax-related news. In this edition:  US Congress recesses until January – Bipartisan House discussion draft on taxation of digital assets released – US imposes phased-in tariffs on China's semiconductors, related products – USTR modifies tariff agreement with Switzerland – US Supreme Court opinion on President's tariff authority expected.

This morning's Free-for-all features Jim Wiesemeyer of Wiesemeyer's Perspectives and Shaun Haney of RealAg Radio. Topics include potential additional aid, USTR confirmed, China, inflation, E15 in California and more.See omnystudio.com/listener for privacy information.

A review of the week's major US international tax-related news. In this edition: US Congress recesses with no action on ACA credit, other legislation – US optimistic on BEPS Pillar Two global minimum tax side-by-side deal – IRS releases final regulations on determining and reporting qualified derivative payments on securities lending transactions – USTR testifies in Congress on USMCA – USTR warns EU over DSTs.

Our Public Policy Strategists Michael Zezas and Ariana Salvatore break down key moves from the White House, U.S. Congress and Supreme Court that could influence markets 2026.Read more insights from Morgan Stanley.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy.Ariana Salvatore: And I'm Ariana Salvatore, U.S. Public Policy Strategist.Michael Zezas: Today we'll be talking about the outlook for U.S. public policy and its interaction with markets into 2026.It's Wednesday, December 17th at 10:30am in New York.So, Ariana, we published our year ahead outlook last month. And since then, you've been out there talking to clients about U.S. public policy, its interaction with markets, and how that plays into 2026. What sorts of topics are on investors' minds around this theme?Ariana Salvatore: So, the first thing I'd say is clients are definitely interested in our more bullish outlook, in particular for the U.S. equity market. And normally we would start these conversations by talking through the policy variables, right? Immigration, deregulation, fiscal, and trade policy. But I think now we're actually post peak uncertainty for those variables, and we're talking through how the policy choices that have been made interact with the outlook.So, in particular for the equity market, we do think that some of the upside actually is pretty isolated from the fact that we're post peak uncertainty on tariffs, for example. Consumer discretionary – the double upgrade that our strategists made in the outlook has very little to do with the policy backdrop, and more to do with fundamentals, and things like AI and the dollar tailwind and all of all those factors.So, I think that that's a key difference. I would say it's more about the implementation of these policy decisions rather than which direction is the policy going to go in.Michael Zezas: Picking up on that point about policy uncertainty, when we were having this conversation a year ago, right after the election, looking into 2025, the key policy variables that we were going to care about – trade, fiscal policy regulation – there was a really wide range of plausible outcomes there.With tariffs, for example, you could make a credible argument that they weren't going to increase at all. But you could also make a credible argument that the average effective tariff rate was going to go up to 50 or 60 percent. While the tariff story certainly isn't over going into 2026, it certainly feels like we've landed in a place that's more range bound. It's an average effective tariff rate that's four to five times higher than where we started the year, but not nearly as high as some of the projections would have. There's still some negotiation that's going on between the U.S. and China and ways in which that could temporarily escalate; and with some other geographies as well. But we think the equilibrium rate is roughly around where we're at right now.Fiscal policy is another area where the projections were that we were going to have anything from a very substantial deficit expansion. Tax cuts that wouldn't be offset in any meaningful way by spending cuts; to a fiscal contraction, which was going to be more focused on heavier spending cuts that would've more than offset any tax cuts. We landed somewhere in between. It seems like there's some modest stimulus in the pipe for next year. But again, that is baked. We don't expect Congress to do much more there.And in terms of regulation, listen, this is a little bit more difficult, but regulatory policy tends to move slowly. It's a bureaucratic process. We thought that some of it would start last year, but it would be in process and potentially hit next year and the year after. And that's kind of where we are.So, we more or less know how these variables have become something closer to constants, and to your point, Ariana now it's about observing how economic actors, companies, consumers react to those policy choices. And what that means for the economy next year.All that said, there's always the possibility that we could be wrong. So, going back to tariffs for a minute, what are you looking at that could change or influence trade policy in a way that investors either might not expect or just have to account for in a new way?Ariana Salvatore: So, I would say the clearest catalyst is the impending decision from the Supreme Court on the legality of the IEEPA tariffs. I think on that front, there are really two things to watch. The first is what President Trump does in response. Right now, there's an expectation that he will just replace the tariffs with other existing authorities, which I think probably should still be our base case. There's obviously a growing possibility, we think, that he actually takes a lighter touch on tariffs, given the concerns around affordability. And then the second thing I would say is on the refunds piece. So, if the Supreme Court does, in fact, say that the Treasury has to pay back the tariff revenue that it's collected, we've investigated some different scenarios what that could look like. In short, we think it's going to be dragged out over a long time period, probably six months at a minimum. And a lot of this will come down to the implementation and what specifically Treasury and CBP, its Customs and Border Protection, sets up to get that money back out to companies.The second catalyst on the trade front is really the USMCA review. So, this is an important topic because it matters a lot for the nearshoring narrative, for the trade relationship that the U.S. has with Mexico and Canada. And there are a number of sectors that come into scope. Obviously, Autos is the clearest impact.So, that's something that's going to happen by the middle of next year. But early in January, the USTR has to give his evaluation of the effectiveness of the USMCA to Congress. I think at that point we're going to start to see headlines. We're going to go start to see lawmakers engage more publicly with this topic. And again, a lot at stake in terms of North American supply chains. So that's going to be a really interesting development to keep an eye on next year too.Michael Zezas: So, what about things that Congress might do? Recently the President and Democrats have been talking about the concept of affordability in the wake of some of the off-cycle elections, where that appeared to influence voter behavior and give Democrats an advantage. So are there policies, any legislative policies in particular, that might come to the forefront that might impact how consumers behave?Ariana Salvatore: So a really important starting point here is just on the process itself, right? So, as we've said, one of the more reliable historical priors is that it's difficult to legislate during election years. That's a function of the fact that lawmakers just aren't in D.C. as often. You also have limited availabilities in terms of procedure itself because Republicans would have to probably do another Reconciliation Bill unless you get some bipartisan support.But hitting on this topic of affordability, there really are a few different things on the table right now. Obviously, the President has spoken about these tariff dividend checks, the $2,000. They've spoken about making changes on housing policy, so housing deregulation, and then the third is on these expanded ACA subsidies.Those were obviously the crux of the government shutdown debate. And for a variety of reasons, I think each of these are really challenging to see moving over the finish line in the coming months. We think that you would need to see some sort of exogenous economic downturn, which is not currently in our economists' baseline forecast, to really get that kind of more reactive fiscal policy.And because of those procedural constraints, I would just go back to the point we were saying earlier around tariff policy and maybe the Supreme Court decision, giving Trump this opportunity to pull back a little bit. It's really the easiest and most available policy lever he has to address affordability. And to that point, the administration has already taken steps in this direction. They provided a number of exemptions on agricultural products and said they weren't going to move forward with the Section 232 tariffs on semiconductors in the very near term. So, we're already seeing directionally, I would say, movement in this area.Michael Zezas: Yeah. And I think we should also keep our eye on potential legislation around energy exploration. This is something that in the past has had bipartisan support loosening up regulations around that, and it's something that also ties into the theme of developing AI as a national imperative. That being said, it's not in our base case because Democrats and Republicans might agree on the high points of loosening up regulations for energy exploration. But there's a lot of disagreements on the details below the surface.But there's also the midterm elections next year. So, how do you think investors should be thinking about that – as a major catalyst for policy change? Or is it more of the same: It's an interesting story that we should track, but ultimately not that consequential.Ariana Salvatore: So obviously we're still a year out. A lot can change. But obviously we're keeping an eye on polling and that sort of data that's coming in daily at this point. The historical precedent will tell you that the President's party almost always loses seats in a midterm election. And in the House with a three-seat majority for Republicans, the bar's actually pretty low for Democrats to shift control back. In the Senate, the map is a little bit different. But let's say you were to get something like a split Congress, we think the policy ramifications there are actually quite limited. If you get a divided government, you basically get fiscal gridlock. So, limits to fiscal expansion, absent like a recession or something like that – that we don't expect at the moment. But you really will probably see legislation only in areas that have bipartisan support.In the meantime, I think you could also expect to see more kind of political fights around things like appropriations, funding the government, the debt ceiling that's typical of divided governments, unless you have some area of bipartisan support, like I said. Maybe we see something on healthcare, crypto policy, AI policy, industrial policy is becoming more of the mainstream in both parties, so potentially some action there.But I think that's probably the limit of the most consequential policy items we should be looking out for.Michael Zezas: Right, so the way I've been thinking about it is: No clear new policies that someone has to account for coming out of the midterms. However, we definitely have to pay attention. There could be some soft signals there about political preferences and resulting policy preferences that might become live a couple years down the line after we get into the 2028 general elections – and the new power configuration that could result from that.So – interesting, impactful, not clear that there'll be fundamental catalysts. And probably along the way we should pay attention because markets will discount all sorts of potential outcomes. And it could get the wrong way on interpreting midterm outcomes, which could present opportunities. So, we'll certainly be tracking that throughout 2026.Ariana Salvatore: Yeah. And if you think about the policy items that President Trump has leaned on most heavily this year and that have mattered for markets, there are things in the executive branch, right? So, tariff policy obviously does not depend on Congress. Deregulation helps if you have fundamental backing from Congress but can occur through the executive agencies. So, to your point, less to watch out for in terms of how it will shift Trump's behavior.Michael Zezas: Well, Ariana, thanks for taking the time to talk.Ariana Salvatore: Always great speaking with you, Michael.Michael Zezas: And to our audience, thanks for listening. If you enjoy thoughts on the Market, please leave us a review and tell your friends about the podcast. We want everyone to listen.

On this episode of the Trade Guys, Bill and Scott discuss President Trump's $12 billion aid package to U.S. farmers, China's trade surplus hitting over $1 billion despite U.S. tariffs, and USTR's hearings with stakeholders on extending the USMCA.

Episode: NCBFAA Customs Committee Spotlight: 2025 Challenges, 2026 Opportunities & The Power of Community Host: Lalo Solorzano Guest(s): Sandra (Sandy) Coty — Customs Committee Co-Chair LinkedIn Mary Jo Muoio — Chair Emeritus LinkedIn Ralph De La Rosa — Customs Committee Co-Chair LinkedIn Lenny Feldman — Customs Committee Counsel LinkedIn Published: December 3, 2025 Length: Approx. 44 min. Presented by: Global Training Center — Website Episode Summary In this special collaborative episode with the National Customs Brokers & Forwarders Association of America (NCBFAA), Simply Trade highlights one of the organization's most active and influential groups: the Customs Committee. Host Lalo Solorzano is joined by committee co-chairs Sandy Coty and Ralph De La Rosa, alongside Mary Jo Muoio (Chair Emeritus) and counsel Lenny Feldman. Together, they unpack a highly dynamic 2025 driven by court cases, tariff unpredictability, modernization initiatives, and the ever-increasing complexity of trade policy. This episode reveals what the Customs Committee does, how it supports the entire brokerage community, and why their work is essential for businesses of all sizes. From interpreting executive orders, to producing toolkits, to being the “eye of the storm” during regulatory upheaval — this group ensures brokers stay informed, compliant, and ready for whatever comes next. The guests also look ahead to 2026, sharing expectations around tariff changes, new trade “deals,” evolving technology, and the crucial role of customs brokers as the industry continues to transform. Key Learnings & Themes 1. What the Customs Committee Actually Does The committee's primary mission is to provide clarity for NCBFAA members on anything related to CBP, trade policy, or customs requirements. This includes: Webinars, toolkits, and e-briefings Monday morning updates (now almost daily due to rapid change) Direct member support for complex questions Coordinated outreach to CBP, Treasury, USTR, and other agencies Flowcharts, FAQs, and practical guides to help brokers execute requirements accurately The group acts as a force multiplier, ensuring that one broker's question becomes clarity for all. 2. Wins and Progress in 2025 Sandy highlights several “first downs” toward long-sought industry improvements: Revenue modernization progress tied to the federal executive order Duty payment flexibility, including paying duties at any port in certain situations 10-day extensions for trade remedy-related entry rejections Improved ACE reports, including inbound, AD/CVD certifications, and low-hanging but highly useful enhancements Ralph notes additional recognition for NCBFAA this year: Sandy and another committee member were appointed to COAC CBP is increasingly seeking NCBFAA's input due to the committee's credibility and expertise 3. Guidance During Turbulent Policy Shifts Mary Jo emphasizes the committee's role as a stabilizing force: They provide institutional knowledge during times that feel overwhelming They help members understand complex topics like tariff stacking, enforcement spikes, and Supreme Court review scenarios They translate shifting rules into actionable guidance They ensure that small brokers have the same insight as large brokers The committee helps the industry “act like we've been here before,” even when the environment is unprecedented. 4. Tariffs, IEEPA, and the Supreme Court Case Lenny breaks down what's at stake: Whether Section 301/IEEPA tariffs remain valid Whether tariff authority is properly delegated Whether changes will apply prospectively or retroactively How brokers should handle refunds, protests, or revenue collection depending on outcomes His analogy: It all comes down to donuts, duties, and delegation — and whether tariffs are a “donut hole” in the statute or “a different kind of pastry.” Regardless of the ruling, the committee will deliver: Updated tools New flowcharts Best-practice guidance Member education sessions 5. Small Brokers Gain Big-Broker Capabilities A recurring theme: NCBFAA levels the playing field. Ralph shares examples: The AD/CVD certification toolkit Harp/Nice Harmonized Tariff Schedule sequencing toolkit Penalty and liquidated damages working groups Center of Excellence and Expertise outreach calls Direct lines of communication to CBP A small broker becomes instantly connected to subject-matter experts, best practices, and national discussions — a major competitive advantage. 6. Looking Ahead to 2026 Panelists expect: New forms of tariff collection Faster, deal-based trade agreements Increased use of AI and machine learning in compliance and enforcement More de minimis-related shifts into formal/informal entry channels Technology-driven expectations for brokers Greater pressure on revenue collection Higher need for accurate guidance, FAQs, and toolkits The brokerage role continues evolving — from “customs house broker” to customs concierge. Takeaways for Listeners NCBFAA's Customs Committee is an unmatched resource for practical, real-world customs compliance guidance. Even small brokers gain expert-level insight and decision support by being part of the community. The association provides stability during rapid regulatory change. The industry will continue evolving quickly — and NCBFAA helps members stay ahead, not behind. Involvement (even at the local level) returns far more value than it requires. Brokers, attorneys, carriers, and service providers all benefit from engagement. Resources Mentioned All references below include embedded official links. NCBFAA & Community NCBFAA — ncbfaa.org NCBFAA Customs Committee — via membership resources COAC (CBP Advisory Committee) — CBP COAC Page U.S. Agencies U.S. Customs & Border Protection (CBP) — cbp.gov U.S. Treasury Department — home.treasury.gov U.S. Trade Representative (USTR) — ustr.gov Department of Homeland Security (DHS) — dhs.gov Department of Commerce — commerce.gov Regulations / Programs / Topics IEEPA (International Emergency Economic Powers Act) — Congress.gov Overview Section 301 / Trade Remedies — USTR 301 Overview Tariff Schedules (HTSUS) — HTS Search ACE Reporting — CBP ACE Portal AD/CVD (Antidumping & Countervailing Duties) — CBP AD/CVD Info De Minimis / Section 321 — CBP Section 321 Federal Register Notices — federalregister.gov Technology & Enforcement Forced Labor Enforcement — CBP Forced Labor AI in Trade Modernization — CBP Innovation Initiatives via CBP Trade Newsroom Credits Host: Lalo Solorzano — Global Training Center Guests: Sandra (Sandy) Coty — LinkedIn Mary Jo Muoio — LinkedIn Ralph De La Rosa — LinkedIn Lenny Feldman — LinkedIn Presented by: Global Training Center — Website Global Training Center LinkedIn — Follow Subscribe & Follow YouTube: Simply Trade Channel Spotify: Listen on Spotify Apple Podcasts: Listen on Apple Podcasts Trade Geeks Community: Join Here

"The The Office of the US Trade Representative has released their 2024 Piracy Report listing the notorious markets for counterfeiting and piracy. The practice is alive and well. This report dedicated an entire section just to music. We will tell you what it said."

Host: Cindy Allen Published: November 21, 2025 Length: ~12 minutes Presented by: Global Training Center Summary This week on Simply Trade: Cindy's Version, Cindy Allen unpacks a dramatic shift in global trade policy—one that touches everything from tariff reductions to new exemptions and unexpected reversals. Inspired by Taylor Swift's Everything Has Changed, Cindy explains how seemingly overnight, the trade landscape has transformed in ways that directly impact importers, customs brokers, and compliance professionals. From significant tariff rollbacks for China and Europe to new carve-outs for select products, Cindy walks through the week's biggest developments and breaks down what's real, what's promised, and what's still uncertain. In a moment where policies shift faster than supply chains can adapt, this episode brings clarity to the change—and perspective to the pace of it all. This Week in Trade • The administration announces a 10% reduction in tariffs on Chinese goods, including items previously subject to Section 301 duties • European-origin goods also receive reductions, with guidance forthcoming • CBP releases clarification on how these reductions apply operationally • Importers await confirmation on whether refunds will be automatic or require PSCs or protests • Supply chains begin recalibrating landed cost models and forecasting impacts New Trade Developments • China signals cooperation by easing rare earth export controls and increasing U.S. agricultural imports • The EU indicates interest in parallel reductions if the U.S. maintains consistency • Treasury and USTR state reductions are prospective, while refund policy remains under review • Early reduction categories include selected machinery, metals, and electronics • CBP urges importers to verify HTS classifications to ensure correct duty application Why This Feels Like “Everything Has Changed” Cindy highlights how quickly and massively the trade environment has shifted in just a few days. Overnight tariff reductions require importers to revisit landed costs, adjust contracts, notify customers, and reevaluate sourcing strategies. Customs brokers must reconfigure systems, classification profiles, and compliance workflows while fielding urgent questions from clients looking for immediate clarity. And with refund policy still unknown, teams must prepare for multiple scenarios, even as new developments continue to unfold. The cumulative effect: everything truly feels like it changed all at once. Key Takeaways • Tariff reductions could significantly cut duties for many importers • Refund guidance is still pending and may not be automatic • Accurate HTS classification is essential to capture reduced rates • China's concessions may signal a possible easing of tensions • The speed of regulatory change is accelerating across all fronts RESOURCES & MENTIONS • Global Training Center • TradeForce Multiplier Credits Host: • Cindy Allen – LinkedIn • Trade Force Multiplier Producer: • Lalo Solorzano – LinkedIn Subscribe & Follow New episodes every Friday. Presented by Global Training Center — providing education, consulting, workshops, and compliance resources for trade professionals. Connect with us: • Simply Trade Podcast on LinkedIn • Global Training Center on LinkedIn • YouTube • Spotify • Apple Podcasts • Trade Geeks Community Don't forget to rate, review, and share with your fellow trade geeks!

The Nasdaq ends a second consecutive week in the red with investors awaiting Nvidia results and a delayed U.S. jobs print later this week. German finance minister Lars Klingbeil is in Beijing for talks with Vice Premier He Lifeng to reassess economic ties between the two countries. Switzerland is eyeing major U.S. investments after the Trump administration cut tariffs down to 15 per cent. USTR Jaimeson Greer says the EU's tariffs on U.S. goods remain too high and the bloc was slow in cutting back levies. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Imports of lamb are reportedly getting so "baaa'd" that the American Sheep Industry asks USTR to invoke section 201 on imports of lamb. Listen for more on Two Minutes in Trade. 

OpenAI facing a new lawsuit from video app Cameo, alleging trademark infringement over a function on its Sora video platform which also has the same name: Cameo. Then the former assistant U.S. trade rep to China, Jeff Moon breaks down what happens following high stakes talks between Trump and China's Xi. Plus, The cost of the government shutdown. Contractors now risk losing $12B. The impact on small business.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The hits keep coming as USTR announces a new Section 301 investigation into China's failure to fulfill its Phase I agreement purchase obligations. Listen for more on Two Minutes in Trade.

Busy, busy, busy. Tariff or framework agreements were announced over the weekend. Malaysia, Cambodia, Thailand & Vietnam. Listen for more on Two Minutes in Trade. 

Last-minute changes on section 301 fees on ships, new 100% tariffs on cranes, and proposed new 150% tariffs. Listen for more on Two Minutes in Trade. 

Tariff whiplash, “China's USTR,” and a carbon levy vote—yet spot rates look oddly calm. Caroline Weaver and Lars Jensen cut through the chaos: Trump's 100% tariff warning vs. the Nov 10 tariff snap-back, China's mirror policy (including the 25% ownership twist), and last-minute U.S. duties on ship-to-shore cranes (with 150% proposed on terminal gear). We also unpack why Trans-Pac spot rates paid are at ~12-month lows despite $3k GRI filings, and what CTS load-date demand says about where volumes are really headed.What you'll learn:How (and whether) to front-load, and what carriers' GRI filings signal vs. what's likely to stickThe operational ripple effects of China's mirror rules—beyond US–China lanesMEPC carbon levy timing (2027 processes, 2028 payments), plus U.S. retaliation talk and practical impactPlaybook: procurement timing for port equipment, contract/GRI strategy, and communicating risk to your CFOActionable guidance in under 30 minutes—so you can protect margins before the next headline hits.

The big things you need to know:First, many of the US equity investors we met with last week were frustrated and wary.Second, other things that jump out in our work include a speech by the USTR to the financial community in NYC last week, the recent fade in the broadening trade and Small Cap leadership, the continued easing in earnings sentiment, and expectations around the shutdown's duration in betting markets.

In this week's Supply Chain Secrets podcast, hosts Caroline Weaver and Lars Jensen unpack the latest developments shaping container shipping and global trade.Lars calls in from Curaçao with an update on freight rates across the Pacific and how carriers' blank sailings are reshaping capacity as Golden Week slows volumes. He dives into the USTR's new restrictions on Chinese-owned vessels — and how China's maritime legislation hints at potential retaliation against U.S. shipping interests.The episode also explores:Why “booked vs. shipped” rates can tell two very different stories — and how indices like NYFI reveal what's actually moving in the marketHow the IMO's new charcoal transport regulations aim to prevent vessel firesThe latest on Red Sea security after another Houthi attack on a Dutch multipurpose vessel, and the EU's ongoing Operation Aspides responsePacked with context, clarity, and real-world insights, this episode breaks down how data, policy, and geopolitics continue to collide across the global supply chain.

Every country wants strong industries and good jobs. But do tariffs actually deliver? Few people have been closer to the frontlines of global trade, tariffs, and innovation than America's former chief trade negotiator Mike Froman. He takes us inside the myths, the hidden costs, and the bigger choices ahead. The question: what will truly define America's edge in the global economy?

U.S. Trade Representative Jamieson Greer joins Face the Nation to discuss the Trump administration's tariff policy. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

This week on Face the Nation, the country faces new economic fears as President Trump fires the head of the agency who delivered Friday's discouraging jobs report and the turbulence over tariffs intensifies. We talk with Mr. Trump's top trade representative, Ambassador Jamieson Greer and Canadian Trade Minister for the U.S. and Canada Dominic LeBlanc. For a look at how these developments are impacting Americans, Bank of America CEO Brian Moynihan, joins us. Then, Dr. Mehmet Oz talks to us about changes to Medicaid made in the GOP's new tax and spending bill, but how will states respond to changes in federal healthcare policy? New Mexico's Democratic Governor Michelle Lujan Grisham gives us more insight.   To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureMost of the bills congress has passed where they said it was going to help the economy, they actually did the opposite. The [DS]/[CB] is now blocking Trump from pushing the tariffs forward, when this fails they will move to the next phase, all will fail in the end. Countries are creating Bitcoin reserves along side their Gold reserves. The [DS] election interference is now being exposed, Trump is going backwards from 2o24 and telling the story from 2016 moving forward, they will meet in the middle, which is the 2020 and the overthrow the US government. Most of the statute of limitations have expired which means these individuals will be classified as an enemy combatant.It all revolves around the rigging of the election.   Economy https://twitter.com/DataRepublican/status/1927813644852810005 (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/StephenM/status/1928065122657845516 https://twitter.com/Lancegooden/status/1928119190839242795 All past presidents used tariffs, Judges didn't say a word until Trump   Federal Trade Court Rules President Trump Cannot Initiate Tariffs Under International Emergency Economic Powers Act, All Tariffs Blocked a federal trade court based out of New York has just ruled in a three-judge decision that President Trump does not have the authority within the International Emergency Economic Powers Act (IEEPA) to initiate emergency trade tariffs.  [The Ruling is HERE]     [From Page 6, pdf] “…[…] in 1962, Congress delegated to the President the power to take action to adjust imports when the Secretary of Commerce finds that an “article is being imported into the United States in such quantities or under such circumstances as to threaten to impair the national security.” Trade Expansion Act of 1962, Pub. L. No. 87-794, § 232(b), 76 Stat. 872, 877 (codified as amended at 19 U.S.C. § 1862(c)(1)(A)). This delegation is conditioned upon an investigation and findings by the Secretary of Commerce, and agreement by the President. See id. Section 301 of the Trade Act of 1974, as amended, requires that the U.S. Trade Representative (“USTR”) take action, which may include imposing tariffs, where “the rights of the United States under any trade agreement are being denied” or “an act, policy, or practice of a foreign country” is “unjustifiable and burdens or restricts United States commerce.” 19 U.S.C. § 2411(a)(1)(A)–(B). The USTR may impose duties also where the USTR determines that “an act, policy, or practice of a foreign country is unreasonable or discriminatory and burdens or restricts United States commerce.” Id. § 2411(b)(1). This power is conditioned on extensive procedural requirements including an investigation that culminates in an affirmative finding that another country imposed unfair trade barriers under § 2411(a)(1)(A) or (B) or § 2411(b), and a public notice and comment period. See id. § 2414(b).”… [source]  the ruling can be overturned on appeal. The Sec 301/302 investigation and process noted above was completed by USTR Jamieson Greer, with extensive citation.  USTR Greer published a 397-page investigative outcome detailing the “unreasonable and discriminatory” burdens to United States commerce. [SEE HERE pdf]