Which Hook? Part II
Open full sizeDebits & Credits, October 23, 2026. Laughs are nonrefundable.
Transcript. Panel 1, an importer in a warehouse holds a shipping invoice for wind turbine parts and a stack of Federal Register pages beside a nacelle crate. Importer: “Is the duty on under IEEPA, 122, 232, or 301? And is it today or next quarter?” Panel 2, Debit at his desk beside a stack of presidential proclamations and annexes tabbed Section 232 aluminum and steel, Section 301 China tariffs, Lists 3 and 4A, and IEEPA determinations. Debit: “Yesterday’s proclamation found a national security threat. Negotiations for 180 days. Existing metal tariffs still apply.” Panel 3, the short answer. Debit: “The effective date? It depends. Check the annex. Again.”
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This alert is for general information only and is not tax, legal, investment, or accounting advice. Consult your own advisers before acting. Carlos A. Schmidt, MBT, MBA, CPA · carlos@lapresallc.com · (917) 558-6393.