On June 10, the Court of Appeals for the Federal Circuit continued the stay it previously put in place regarding the Court of International Trade’s May 28th decision declaring the IEEPA tariffs unauthorized. The appeals court has scheduled an oral argument on the appeal’s merits on July 31, 2025, at 10:00 am and asked the parties to propose deadlines to submit their written arguments. Consequently, CBP will continue to collect the fentanyl tariffs initiated in February 2025, along with the reciprocal tariffs that started in April 2025, for the foreseeable future.

On June 11, U.S. and Chinese trade negotiators wrapped up two days of intensive talks. As reported by The Wall Street Journal, this deal was based in part on Beijing’s promise to speed export licenses of rare-earth minerals, whilst the trade negotiations continued between the two nations. The U.S. side, led by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, negotiated to accelerate China’s exports of rare earths and magnets containing them. The Chinese delegation, led by Vice Premier He Lifeng, a trusted Xi aide, negotiated for the U.S. side to significantly loosen restrictions on the sale of technology and other products to China.

Reuters noted that a “White House official said the agreement allows the U.S. to charge a 55% tariff on imported Chinese goods. This includes a 10% baseline ‘reciprocal’ tariff, a 20% tariff for fentanyl trafficking and a 25% tariff reflecting pre-existing tariffs. China would charge a 10% tariff on U.S. imports, the official said.”

A.N. Deringer, Inc. will monitor U.S. Customs and Border Protection (CBP) messaging as well as the Federal Register for clarifications, guidance, and effective date(s).

Sources: The Wall Street Journal, Reuters

Due to the rapidly changing application and modifications of duty rates, please note that Deringer is not responsible for coordinating the timing of U.S. entry and imposed tariff rates.