President Trump announces new tariffs effective Aug. 1
On July 7, President Trump signed an Executive Order extending certain tariff rates through Aug. 1 (initially set to expire July 9) and notified multiple countries of new reciprocal tariff rates also set to take effect Aug. 1. The countries include Japan (25%), Korea (25%), South Africa (30%), Kazakhstan (25%), Laos (40%), Malaysia (25%), Myanmar (40%), Tunisia (25%), Bosnia and Herzegovina (30%), Indonesia (32%), Bangladesh (35%), Serbia (35%), Cambodia (36%) and Thailand (36%).
On July 9, President Trump sent an additional batch of tariff announcements to Algeria, Brazil, Brunei, Iraq, Libya, Moldova, the Philippines and Sri Lanka with levels ranging from 25% to 50% that also will begin Aug. 1. Brazil was the highest rate announcement at 50%. These revised rates are higher for some countries and lower for others compared with the initial rate announced in April. Additionally, the president confirmed a tariff on copper of 50% to align with the other August deadlines.
Staying informed and engaged will be essential to navigating the rapidly shifting landscape. During this period of uncertainty, companies should take proactive steps to advance and protect their interests. For example, businesses should understand imports they rely on and their countries of origin; assess a range of potential effects on key suppliers and materials; and monitor the administration’s process for opportunities to provide analysis and data to inform the development of trade policy and potential alternatives.
Department of Labor publishes deregulatory agenda
On July 1, Secretary of Labor Lori Chavez-DeRemer announced a comprehensive deregulatory agenda aimed at reducing regulatory burdens and ultimately spurring economic growth and job creation. The plan includes 63 deregulatory actions across the Department of Labor that will repeal or modify regulations issued by past administrations.
“The Department of Labor is proud to lead the way in eliminating unnecessary regulations that stifle growth and limit opportunity,” said Chavez-DeRemer.
The plan includes numerous initiatives proposed by the Occupational Safety and Health Administration to eliminate or revise workplace safety regulations deemed to be outdated, duplicative or unnecessarily inflexible. NRCA is reviewing the proposals, which are of interest to the roofing industry, and will provide more information to members in the future.
DHS terminates Temporary Protected Status for Honduras and Nicaragua
On July 7, the Department of Homeland Security announced the termination of Temporary Protected Status for qualifying individuals from Honduras and Nicaragua. In brief statements, Secretary of Homeland Security Kristi Noem indicated conditions in both countries have improved sufficiently in recent years to warrant this action. The terminations will take effect Sept. 8, which is the date Employment Authorization Documents for affected individuals will expire. More information is available here and here. Lawsuits challenging these actions already have been filed, but the outlook for such litigation is highly uncertain.
NRCA continues working to obtain guidance and transition assistance from the Trump administration for employers regarding the many changes in immigration policy during recent months. Also, NRCA expects new legislation to provide permanent legal status for qualifying immigrants with TPS and other designations will be introduced in Congress during the coming weeks.
Support ROOFPAC over drinks at NRCA’s Midyear Committee Meetings in Chicago
Join your roofing friends and colleagues for a lively cocktail reception benefiting ROOFPAC on Wednesday, July 16, from 5:30 to 7 p.m. at Siena Tavern in Chicago. Enjoy catching up with fellow industry professionals over tasty cocktails and Italian treats—all while strengthening the voice of the roofing industry on Capitol Hill ($175 per person/$275 per couple). Members of NRCA’s Political Insiders Council and Capitol Hill Club, along with their guests, receive complimentary admission. Special thanks to our sponsor Johns Manville for making this event possible. For more information or to register, please visit www.nrca.net/roofpac-midyear-event. For any questions or to secure the couples’ rate, contact Teri Dorn at (202) 510-0920 or tdorn@nrca.net.
