By SEMA Washington, D.C., Staff

The U.S. Customs and Border Protection (CBP) published interim instructions for implementing the U.S.-Mexico-Canada Agreement (USMCA) and the Office of the U.S. Trade Representative (USTR) issued guidelines providing North American automakers more time to comply with the trade accord’s rules of origin. The Trump Administration has been eager to replace NAFTA with the USMCA by July 1. The automakers have said that they will need additional time to put in place ways to verify the new 75% North American content requirement for motor vehicles, compared with 62.5% currently, and confirm that at least 40%–45% of the vehicle content is made by workers earning at least $16 an hour.

The CBP’s 45-page guidance document provides a comprehensive overview of rules governing the trade agreement. The USTR’s Procedures for Petitioning Alternative Method for Complying with Rules of Origin provides five years rather than three for phasing in the new rules of origin.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

The U.S. Customs and Border Protection (CBP) published interim instructions for implementing the U.S.-Mexico-Canada Agreement (USMCA) and the Office of the U.S. Trade Representative (USTR) issued guidelines providing North American automakers more time to comply with the trade accord’s rules of origin. The Trump Administration has been eager to replace NAFTA with the USMCA by July 1. The automakers have said that they will need additional time to put in place ways to verify the new 75% North American content requirement for motor vehicles, compared with 62.5% currently, and confirm that at least 40%–45% of the vehicle content is made by workers earning at least $16 an hour.

The CBP’s 45-page guidance document provides a comprehensive overview of rules governing the trade agreement. The USTR’s Procedures for Petitioning Alternative Method for Complying with Rules of Origin provides five years rather than three for phasing in the new rules of origin.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

The U.S. Customs and Border Protection (CBP) published interim instructions for implementing the U.S.-Mexico-Canada Agreement (USMCA) and the Office of the U.S. Trade Representative (USTR) issued guidelines providing North American automakers more time to comply with the trade accord’s rules of origin. The Trump Administration has been eager to replace NAFTA with the USMCA by July 1. The automakers have said that they will need additional time to put in place ways to verify the new 75% North American content requirement for motor vehicles, compared with 62.5% currently, and confirm that at least 40%–45% of the vehicle content is made by workers earning at least $16 an hour.

The CBP’s 45-page guidance document provides a comprehensive overview of rules governing the trade agreement. The USTR’s Procedures for Petitioning Alternative Method for Complying with Rules of Origin provides five years rather than three for phasing in the new rules of origin.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

President Trump issued an Executive Order allowing U.S. Treasury Secretary Steve Mnuchin to defer payments of certain duties, taxes and fees for up to 90 days dating back to March 2020. However, the Order does not apply to the Section 232 and 301 tariffs being imposed on imports of steel and aluminum and products from China. While the action may free-up cash for companies struggling under COVID-19 burdens, it is a temporary deferral rather than a suspension of collections. Further, the deferral is not automatic. The importer must demonstrate a significant financial hardship to qualify.  

SEMA and the Americans for Free Trade (AFT) Coalition continue to seek more comprehensive relief for U.S. businesses. In March, the Coalition sent a letter to President Trump asking the Administration to temporarily suspend the collection of duties including the Section 232 and 301 tariffs. The Administration rejected the request.

The AFT Coalition is now sending a second letter asking that the Executive Order be expanded to automatically defer collections on all duties (including Section 232 and 301 tariffs) made from the first half of March through the end of June. The action is needed to help mitigate the economic harm caused by COVID-19 and provide financial liquidity to companies during this crisis.

SEMA members are urged to sign the letter by Monday, April 27 (3:00 pm EDT). Only your company name, city and state will be listed on the letter. (An earlier draft of the letter was circulated for signatures before the President issued the Executive Order. The letter has been updated and you will need to sign again.)

Click here to sign.

Questions/comments? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

President Trump issued an Executive Order allowing U.S. Treasury Secretary Steve Mnuchin to defer payments of certain duties, taxes and fees for up to 90 days dating back to March 2020. However, the Order does not apply to the Section 232 and 301 tariffs being imposed on imports of steel and aluminum and products from China. While the action may free-up cash for companies struggling under COVID-19 burdens, it is a temporary deferral rather than a suspension of collections. Further, the deferral is not automatic. The importer must demonstrate a significant financial hardship to qualify.  

SEMA and the Americans for Free Trade (AFT) Coalition continue to seek more comprehensive relief for U.S. businesses. In March, the Coalition sent a letter to President Trump asking the Administration to temporarily suspend the collection of duties including the Section 232 and 301 tariffs. The Administration rejected the request.

The AFT Coalition is now sending a second letter asking that the Executive Order be expanded to automatically defer collections on all duties (including Section 232 and 301 tariffs) made from the first half of March through the end of June. The action is needed to help mitigate the economic harm caused by COVID-19 and provide financial liquidity to companies during this crisis.

SEMA members are urged to sign the letter by Monday, April 27 (3:00 pm EDT). Only your company name, city and state will be listed on the letter. (An earlier draft of the letter was circulated for signatures before the President issued the Executive Order. The letter has been updated and you will need to sign again.)

Click here to sign.

Questions/comments? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

President Trump issued an Executive Order allowing U.S. Treasury Secretary Steve Mnuchin to defer payments of certain duties, taxes and fees for up to 90 days dating back to March 2020. However, the Order does not apply to the Section 232 and 301 tariffs being imposed on imports of steel and aluminum and products from China. While the action may free-up cash for companies struggling under COVID-19 burdens, it is a temporary deferral rather than a suspension of collections. Further, the deferral is not automatic. The importer must demonstrate a significant financial hardship to qualify.  

SEMA and the Americans for Free Trade (AFT) Coalition continue to seek more comprehensive relief for U.S. businesses. In March, the Coalition sent a letter to President Trump asking the Administration to temporarily suspend the collection of duties including the Section 232 and 301 tariffs. The Administration rejected the request.

The AFT Coalition is now sending a second letter asking that the Executive Order be expanded to automatically defer collections on all duties (including Section 232 and 301 tariffs) made from the first half of March through the end of June. The action is needed to help mitigate the economic harm caused by COVID-19 and provide financial liquidity to companies during this crisis.

SEMA members are urged to sign the letter by Monday, April 27 (3:00 pm EDT). Only your company name, city and state will be listed on the letter. (An earlier draft of the letter was circulated for signatures before the President issued the Executive Order. The letter has been updated and you will need to sign again.)

Click here to sign.

Questions/comments? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

President Trump issued an Executive Order allowing U.S. Treasury Secretary Steve Mnuchin to defer payments of certain duties, taxes and fees for up to 90 days dating back to March 2020. However, the Order does not apply to the Section 232 and 301 tariffs being imposed on imports of steel and aluminum and products from China. While the action may free-up cash for companies struggling under COVID-19 burdens, it is a temporary deferral rather than a suspension of collections. Further, the deferral is not automatic. The importer must demonstrate a significant financial hardship to qualify.  

SEMA and the Americans for Free Trade (AFT) Coalition continue to seek more comprehensive relief for U.S. businesses. In March, the Coalition sent a letter to President Trump asking the Administration to temporarily suspend the collection of duties including the Section 232 and 301 tariffs. The Administration rejected the request.

The AFT Coalition is now sending a second letter asking that the Executive Order be expanded to automatically defer collections on all duties (including Section 232 and 301 tariffs) made from the first half of March through the end of June. The action is needed to help mitigate the economic harm caused by COVID-19 and provide financial liquidity to companies during this crisis.

SEMA members are urged to sign the letter by Monday, April 27 (3:00 pm EDT). Only your company name, city and state will be listed on the letter. (An earlier draft of the letter was circulated for signatures before the President issued the Executive Order. The letter has been updated and you will need to sign again.)

Click here to sign.

Questions/comments? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

SEMA members can again apply for a PPP loan or emergency injury disaster (EIDL) loan once President Trump signs pending legislation providing additional funding for both programs. Members are reminded that comprehensive information about these programs is located at SEMA Corona-Updates/SBA Loan Information.

SEMA has also posted several articles with background information and tips of interest about the programs. They include:

• Tips on How to Get a Small-Business Loan Under the New $484 Billion Coronavirus Aid Package, Washington Post (April 23, 2020)
• You Applied for a Loan, Now What? An article published by CE Outlook with suggestions by CPA Gordon T. Gassner, president of Gassner & Company, in a presentation sponsored by Orca Design & Manufacturing.
• Five Things Every Paycheck Protection Program Borrower Should Do After Receiving a Loan. Forbes Magazine article by Jason B. Freeman, contributor (April 9, 2020)
• Ten Things We Need to Know About Paycheck Protection Program Loan Forgiveness. Forbes Magazine article by Tony Nitti, senior contributor (April 15, 2020)

New information is posted on the SEMA’s Coronavirus Updates site as it becomes available. Members are urged to bookmark the site.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

SEMA members can again apply for a PPP loan or emergency injury disaster (EIDL) loan once President Trump signs pending legislation providing additional funding for both programs. Members are reminded that comprehensive information about these programs is located at SEMA Corona-Updates/SBA Loan Information.

SEMA has also posted several articles with background information and tips of interest about the programs. They include:

• Tips on How to Get a Small-Business Loan Under the New $484 Billion Coronavirus Aid Package, Washington Post (April 23, 2020)
• You Applied for a Loan, Now What? An article published by CE Outlook with suggestions by CPA Gordon T. Gassner, president of Gassner & Company, in a presentation sponsored by Orca Design & Manufacturing.
• Five Things Every Paycheck Protection Program Borrower Should Do After Receiving a Loan. Forbes Magazine article by Jason B. Freeman, contributor (April 9, 2020)
• Ten Things We Need to Know About Paycheck Protection Program Loan Forgiveness. Forbes Magazine article by Tony Nitti, senior contributor (April 15, 2020)

New information is posted on the SEMA’s Coronavirus Updates site as it becomes available. Members are urged to bookmark the site.

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

SEMA members can again apply for a PPP loan or emergency injury disaster (EIDL) loan once President Trump signs pending legislation providing additional funding for both programs. Members are reminded that comprehensive information about these programs is located at SEMA Corona-Updates/SBA Loan Information.

SEMA has also posted several articles with background information and tips of interest about the programs. They include:

• Tips on How to Get a Small-Business Loan Under the New $484 Billion Coronavirus Aid Package, Washington Post (April 23, 2020)
• You Applied for a Loan, Now What? An article published by CE Outlook with suggestions by CPA Gordon T. Gassner, president of Gassner & Company, in a presentation sponsored by Orca Design & Manufacturing.
• Five Things Every Paycheck Protection Program Borrower Should Do After Receiving a Loan. Forbes Magazine article by Jason B. Freeman, contributor (April 9, 2020)
• Ten Things We Need to Know About Paycheck Protection Program Loan Forgiveness. Forbes Magazine article by Tony Nitti, senior contributor (April 15, 2020)

New information is posted on the SEMA’s Coronavirus Updates site as it becomes available. Members are urged to bookmark the site.

For more information, contact Stuart Gosswein at stuartg@sema.org.