Commodities, Business & Shipping (and Tariffs)

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Businesses are finding a workaround for tariffs — and it’s entirely legal​

  • Businesses are finding a workaround to minimize the most significant hit from U.S. tariffs.
  • The “first sale rule” is a concept in U.S. customs law that allows importers to use the lowest cost of a good to calculate duties.
  • “It’s been around for a very long time but ... everybody’s beginning to explore it with more interest,” lawyer Brian Gleicher told CNBC.
Businesses are finding a workaround to minimize the most significant hit from tariffs, using a decades-old piece of legislation known as the “first sale rule.”

Within U.S. customs law, the first sale rule allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties.

For instance, a Chinese manufacturer sells a t-shirt to a Hong Kong vendor for $5. That Hong Kong vendor then sells the t-shirt to a U.S. retailer for $10. That U.S. retailer then sells the t-shirt to consumers for $40.

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Dow futures rise 400 points after Trump announces extension on EU tariff: Live updates​

Stock futures jumped Monday night after President Donald Trump said over the holiday weekend that he agreed to delay tariffs of 50% on the European Union.

Dow Jones Industrial Average futures added 450 points points, or 1.1%. S&P 500 futures climbed 1.2%, while Nasdaq 100 futures popped 1.4%.

Trump on Sunday said that he would push back the 50% levy deadline on the EU to July 9 following a request from Ursula von der Leyen, the president of the European Commission. That comes after Trump last week proposed an import tax of 50% on the EU beginning June 1.

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North Korean 'ghost ships' and US$700 million heist on the high seas​

May 24, 2025 #scmp #NorthKorea #SCMPExplains
It was a macabre discovery – hundreds of battered wooden fishing boats, some carrying human remains, washed up on the shores of Japan and Russia. Investigators found that all the boats originated from North Korea. But what happened to the crew members? That question is what Global Fishing Watch set out to answer. The independent monitoring group’s Senior Data Scientist Jaeyoon Park eventually revealed a deep-sea heist of historic proportions.


17:08
 
Weekly scrap market report

Copper Jumps $0.18! Big Moves in Rare Earths & Catalytic Converters This Week​

📈 Check Scrap Prices: https://iScrapApp.com/ - Copper’s on fire, platinum’s making moves, and rare earth metals are back in the spotlight! In this week’s market update, we break down all the major shifts scrappers need to know—plus the surprising forces driving these changes
Join us as we dive into the latest movements in the scrap metal market, with a special focus on copper and other key metals. From unexpected price jumps to green steel innovations, get the insights you need to stay ahead in the game!
👉 Read more: https://iscrapapp.com/blog/weekly-scr...

Copper Jumps $0.18! Big Moves in Rare Earths & Catalytic Converters
 

Dow futures jump 500 points as court blocks Trump tariffs, Nvidia posts earnings beat: Live updates​

Futures surged early Thursday as a federal court knocked down President Donald Trump’s “reciprocal” tariffs. Solid earnings from artificial intelligence heavyweight Nvidia also buoyed the market.

Futures tied to the S&P 500 rose 1.49%, while Nasdaq 100 futures gained 1.88%. Dow futures climbed 470 points, or 1.12%.

On Wednesday night, the U.S. Court of International Trade ruled that Trump overstepped his authority when he imposed his “reciprocal” tariffs. The judges ordered that the challenged tariff orders be vacated.

The April 2 announcement of Trump’s duties, the president’s constantly changing approach toward trade policy, as well as inflation fears fueled by the prospect of the tariffs, roiled markets last month. Some companies have also highlighted the levies and dialed back their forecasts, pointing to uncertainty around trade policy and the impact on the consumer. For now, the judges’ decision appears to have allayed investors’ worries.

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What happens to Trump’s tariffs now that a court has knocked them down?​

WASHINGTON (AP) — A federal court in New York handed President Donald Trump a big setback Wednesday, blocking his audacious plan to impose massive taxes on imports from almost every country in the world.

A three-judge panel of the U.S. Court of International Trade ruled that Trump overstepped his authority when he invoked the 1977 International Emergency Economic Powers Act to declare a national emergency and justify the sweeping tariffs.

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https://www.msn.com/en-us/news/othe...e-s-what-to-know/ar-AA1FG3vH?ocid=socialshare
 

Will there be a Trump tariff refund?​

The federal court ruling aimed at striking down the majority of President Donald Trump's tariffs could force the government to pay back billions of dollars in import duties that have already been collected.

Newsweek has reached out to U.S. Customs and Border Protection (CBP), the agency responsible for administering tariffs and collecting duties, for comment.

What To Know​

On Wednesday, a three-judge panel at the U.S. Court of International Trade (CIT) ruled that the International Emergency Economic Powers Act (IEEPA) did not grant the president authority to impose his sweeping tariffs or bypass Congress' typical control over economic policy and commerce. The 1977 law was cited by Trump as justification for the majority of his tariffs, most notably those unveiled on "Liberation Day" in early April.

"The court does not read IEEPA to confer such unbounded authority and sets aside the challenged tariffs imposed thereunder," the ruling read.

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https://www.msn.com/en-us/news/poli...S&cvid=5aa22afd8e414db2b92f1b2e39628891&ei=23
 

Trump tariffs reinstated by appeals court for now​

  • A federal appeals court granted the Trump administration’s request to temporarily pause a lower-court ruling that struck down most of President Donald Trump’s tariffs.
  • The Trump administration had told the U.S. Court of Appeals for the Federal Circuit that it might seek “emergency relief” from the Supreme Court.
  • Trump officials including Peter Navarro and Stephen Miller have heaped criticism on the trade-court judges following their ruling.
A federal appeals court on Thursday granted the Trump administration’s request to temporarily pause a lower-court ruling that struck down most of President Donald Trump’s tariffs.

The Trump administration had earlier told the U.S. Court of Appeals for the Federal Circuit that it would seek “emergency relief” from the Supreme Court as soon as Friday if the tariff ruling was not quickly put on pause.

The judgment issued Wednesday night by the U.S. Court of International Trade is “temporarily stayed until further notice while this court considers the motions papers,” the appeals court said in its order.

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Fearnleys Week 22

houseofshipping.com

Week 22 2025 Shipping News Insights

Stay updated with Week 22 2025 shipping news and air freight updates shaping global logistics. Contact us for more!
houseofshipping.com houseofshipping.com

Baltic Exchange Dry Index - Price - Chart - Historical Data - News

Baltic Dry increased 356 points or 35.71% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Baltic Exchange Dry Index - values, historical data, forecasts and news - updated on May of 2025.
tradingeconomics.com tradingeconomics.com
 
fredpickhardt.substack.com

2025 Atlantic Hurricane Outlook Update

As of late May, sea surface temperatures (SST) are cooler than normal over most of the eastern half of the Atlantic Main Development Region (MDR) while they remain warmer than normal over the southwestern North Atlantic, Caribbean, and Gulf.
fredpickhardt.substack.com fredpickhardt.substack.com

oceanweatherservices.com

Global Maritime Weather Expert

Ocean Weather Services provides forensic marine weather analysis reports for Admiralty Lawyers and Marine Insurers. In addition, we provide accurate ocean storm and hurricane tracking services as well as global ocean weather routing services to the maritime industry.
oceanweatherservices.com
 
splash247.com

Record numbers of vessels abandoned - Splash247

The number of vessel abandonments has soared nearly 33% year-on-year, with 158 cases already recorded by May 2025, compared to 119 at the same point last year, according to new figures released by the International Transport Workers’ Federation (ITF). These cases have impacted at least 1,501...
splash247.com splash247.com

splash247.com

UN nuclear chief meets Greek shipping leaders to advance maritime nuclear propulsion - Splash247

Rafael Mariano Grossi, director general of the International Atomic Energy Agency (IAEA), met with leading Greek shipowners on Thursday to explore the potential of nuclear-powered commercial vessels. The talks come as the UN agency launches ATLAS — Atomic Technology Licensed for Applications at...
splash247.com splash247.com
 

Wall Street Roundup: The Fog Of Tariffs​

Summary​

  • Nvidia's earnings sparked a modest market reaction, highlighting debate over AI growth sustainability and the challenge of valuing high-flying tech stocks.
  • Tariff uncertainty continues to drive volatility.
  • Retail sector remains murky, with stock-picking favored; companies like Walmart and Costco are better positioned against macro and tariff risks than Target.
  • Bitcoin's adoption by companies like GameStop is more about attracting momentum investors than fundamentals, but institutional uptake remains bullish for Bitcoin long-term.
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Trump accuses China of violating preliminary trade deal​

  • President Donald Trump said China has violated a preliminary trade agreement with the U.S.
  • “So much for being Mr. NICE GUY!” Trump wrote in a social media post that said China had reneged on a deal that paused retaliatory tariffs between that country and the U.S.
  • Stock futures fell shortly after Trump’s statement.
President Donald Trump on Friday said that China has “totally violated its” preliminary trade agreement with the United States, and suggested he would take action in response.

“So much for being Mr. NICE GUY!” Trump wrote in a social media post that said China had reneged on a deal that paused retaliatory tariffs between that country and the U.S.

Stock futures fell Friday morning on the heels of Trump’s statement.

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www.thebarentsobserver.com

Banned by EU, welcome in Kirkenes

Only few days after Vitalii Orlov's company Norebo was put on EU's sanctions list, two of his trawlers made port call in the Norwegian border town. 'It is remarkable that Norway has not immediately followed suit and taken action against Norebo,' says Member of the Norwegian Parliament Alfred Bjørlo.
www.thebarentsobserver.com www.thebarentsobserver.com
 
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