April ’25 at-a-glance … taxes, tariffs & trade

Given the constantly changing nature of the tariff situation, NAFEM updates the Taxes, Tariffs and Trade page of nafem.org weekly. We recommend visiting this page for information and consult with your customs broker for up-to-the-minute tariff information relative to your business and its products.  

Prevent the largest tax increase in U.S. history 

If Congress fails to pass legislation to extend or make permanent the tax reform provisions from the 2017 Tax Cuts and Jobs Act, it will result in the largest tax increase in U.S. history. The NAFEM Advocacy Action Center makes it easy to join NAFEM in reaching out to elected officials to relay how important these provisions are to your business, competitiveness and the overall U.S. economy, particularly with the uncertainty due to tariffs. 

NAFEM joins cry against shipping fees on Chinese ships 

NAFEM joined the US Chamber of Commerce and 100+ others in advocating against the U.S. Trade Representative’s (USTR) proposed Section 301 actions to counter China’s dominance in shipbuilding. USTR recommends increasing fees on Chinese ships to counter the country’s shipbuilding dominance. The Chamber estimates doing so would increase shipping costs by 25% for most goods and would likely fail to stimulate U.S. ship building. “The proposal would increase shipping costs, raise prices and decrease exports & imports, deeply hurting American businesses and consumers.”  

Investigation underway on transit “choke points” 

The Federal Maritime Commission (FMC) launched an investigation into transit constraints that may be creating unfavorable shipping conditions for U.S. foreign trade. “Choke points” being studied are the Suez Canal, Panama Canal, English Channel, Malacca Strait, Singapore Strait, Northern Sea Passage and Strait of Gibraltar. FMC is looking into laws, regulations and practices of foreign governments or the practices of foreign-flag vessels owners or operators and is accepting comments until May 13.