Member Briefing April 20, 2026

Posted By: Harold King Daily Briefing,

What To Know About CBP’s Tariff Refund Process Launching Today

U.S. Customs and Border Protection is set to launch a claims portal today to process tariff refunds tied to recent court rulings, with potential repayments totaling an estimated $166 billion. The U.S. Court of International Trade issued a ruling last month finding that tariffs struck down by the U.S. Supreme Court in February must be refunded. Bryan Graiff, who leads manufacturing and distribution for accounting and consulting firm Armanino said companies should not wait for final clarity before acting.

The refund process is expected to require extensive documentation, including importer-of-record filings, as well as details on shipment contents and duties paid. Companies may also need to show whether tariff costs were absorbed internally or passed on to customers through pricing decisions at the product or SKU level. The complexity can escalate quickly, particularly for large shipments containing thousands of SKUs. Besides ensuring proper documentation, CFOs should also prepare by assessing potential “downstream impacts” of receiving a refund, such as financial reporting and tax-related issues, according to Huynh. Close coordination between CFOs and supply chain and procurement leaders who are closest to the underlying transactions and supplier relationships will be critical.

Read More at Supply Chain Dive

30 Central Bankers, Policymakers And Politicians Share Their Top Concerns

CNBC spoke to more than 30 central bankers, politicians and policymakers at the IMF World Bank meetings in Washington, DC, this week, who weighed in on the U.S.-Iran war and their biggest economic concerns. The interviews came before Iran’s Friday declaration that the Strait of Hormuz is completely open to commercial traffic during the ceasefire between Israel and Lebanon, and its subsequent statement on Saturday that the key energy chokepoint was closed again because the U.S. had failed to meet its obligations.

  • A drawn-out war - Quoting the Colombian writer Gabriel García Márquez, Pierre Gramegna, managing director of the European Stability Mechanism’s answer to whether the war and its impact will last was “it is easier to start a war than to end a war.”
  • Stagflation - Many of those who spoke to CNBC flagged growth and inflation challenges, with stagflation being a key concern.
  • Energy security - Greek Finance Minister Kyriakos Pierrakakis warned that the world is “potentially looking at the greatest energy crisis in history.” “And if you add up all the other elements, one third of fertilizers pass through the Strait [of Hormuz] — sulfur, helium, petrochemicals — collectively, it can potentially be a huge risk,” Pierrakakis told CNBC’s Tso.
  •  ‘Fog’ and ‘cloud’ creating policymaking challenges - Policymakers who spoke to CNBC in Washington also said it had become difficult to forward plan due to the enduring uncertainty. Olli Rehn, governor of Finland’s central bank said “There is no clarity, no certainty about the key factors, [including] the duration of the conflict. That depends very much on the negotiations, and it depends on how serious damage has been done to energy production and transport routes,” he told CNBC. “The outlook is very foggy for the moment, so … the optional value of waiting is quite high.”
  • Market resilience - “The markets have operated in quite an orderly way,” Verena Ross, chair of the EU regulator the European Securities and Markets Authority, said. “Market players have been able to meet margin calls and things like that. So there has been quite some resilience in how the markets have operated. The question is, how will markets continue to cope with increased volatility that seems to be happening on a daily basis?”

Read more at CNBC

NY Fed: Service Sector Business Conditions Continue to Contract Across the Region

Business activity continued to fall in the New York-Northern New Jersey region, according to the April survey, though the decline was less pronounced than in recent months. The headline business activity index rose nine points but remained below zero at -14.0.

  • The business climate index fell three points to -49.3, with 59 percent of respondents reporting an unfavorable business climate.
  • The employment index came in at -2.4, its eighth consecutive negative reading, suggesting employment continued to shrink, though only slightly this month.
  • The wages index rose eight points to 37.0, pointing to a pickup in wage increases.
  • The prices paid index jumped eleven points to 73.8, signaling a sharp acceleration in input price increases, while the prices received index rose four points to 32.7, indicating a modest pickup in the pace of selling price increases.
  • At -20.0, the supply availability index was down seven points from a month ago, suggesting supply availability worsened significantly.
  • Employment is expected to grow only slightly.
  • Firms planned only modest increases in capital spending.

Read more at The NY Fed

Iran and the Middle East

Ukraine

Other World Headlines

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State Budget Talks Show Progress

After a tense Monday and Tuesday in Albany, New York’s state budget negotiations over the past two days have felt like a train delayed at the station for an hour — but now, one by one, the wheels are starting to move. That sense was clear when Gov. Kathy Hochul, a Democrat, announced at the top of a press availability following an unrelated event that there has been progress toward reaching a deal with the Democrat-led Legislature on an immigrant protection package that has been brewing since the beginning of the legislative session.

Senate Majority Leader Andrea Stewart-Cousins told reporters Wednesday that Hochul’s proposal to change environmental quality review regulations to spur housing development and lower costs was closest to a deal. Hochul has signaled concern, holding multiple events this week to push against the measures being watered down by lawmakers wary of the proposal’s scope. The governor hosted mayors and local officials from Central and Western New York on Thursday to discuss the plan. They sought to convince reporters that for projects on previously disturbed land with no environmental threat, local review procedures are sufficient.

Read more at NY State of Politics

Trump Nominates Erica Schwartz As CDC Director Amid Turmoil Around Leadership, Vaccine Policy

President Donald Trump on Thursday nominated Erica Schwartz to serve as director of the Centers for Disease Control and Prevention, concluding a monthslong effort to choose a permanent leader of the embattled health agency.  Schwartz, who will have to be confirmed by the Senate, would take over the role as Health and Human Services Secretary Robert F. Kennedy Jr. oversees a string of controversial health policy changes at the agency, including an overhaul of childhood vaccine recommendations. She served as deputy surgeon general during the first Trump administration, where she played a major role in the U.S. response to the Covid-19 pandemic.

Schwartz spent more than 20 years in uniform, including as rear admiral and chief medical officer of the Coast Guard. Schwartz’s nomination comes after a tumultuous several months for the agency, which is reeling from the leadership upheaval, plummeting morale, significant staff turnover and controversial changes to U.S. vaccine policy. Ahead of leadership departures last year, staff members were shaken by a gunman’s attack on the CDC’s Atlanta headquarters on Aug. 8.  Last month, a judge blocked a critical vaccine panel’s efforts to overhaul U.S. immunization policy. That includes an effort to reduce the number of recommended childhood shots from 17 to 11.

Read More at CNBC

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Manfuacturing Skills Study Council Responds to White House Request for Strategic Plan Input.

In response to a Request for Information issued by the White House Office of Science and Technology Policy (OSTP), MSSC has submitted a set of strategic recommendations focused on strengthening the U.S. manufacturing workforce—identified as the single greatest constraint on industry growth. Our recommendations present a clear, actionable path to expand the skilled talent pipeline, modernize training systems, and scale proven workforce models that keep pace with rapid technological change. We invite you to review our submission and join us in shaping a stronger, more competitive manufacturing future. To strengthen the advanced manufacturing workforce, federal agencies should prioritize the following actions:

  • Elevate manufacturing workforce development as a national priority aligned with industrial and supply chain strategy.
  • Modernize federal workforce data systems to distinguish outcomes for individuals with certifications, apprenticeships, and technical credentials.
  • Expand adoption of industry-recognized certifications across federal workforce and education programs.
  • Scale registered apprenticeships and pre-apprenticeships aligned with advanced manufacturing careers .
  • Invest in hands-on training infrastructure to support Industry 4.0 skill development
  • Strengthen national awareness of manufacturing careers as high-tech, high-wage pathways.

Read more at City & State

More Policy and Politics Headlines

Lilly Says Foundayo Obesity Pill Lowers Heart Attack, Stroke Risk In Study

Eli Lilly said on ⁠Thursday its newly approved obesity pill was not inferior to a widely used long-acting insulin at ​lowering the risk of ​major heart problems in ​patients with type 2 diabetes and obesity. The U.S. Food and Drug Administration approved the pill, Foundayo, for weight loss earlier this month, intensifying Lilly’s competition with Danish ⁠rival ‌Novo Nordisk, who’s oral Wegovy has been on ⁠the market since January.

The late-stage study data also adds to the obesity drug’s potential in diabetes, boosting Lilly’s position in the multi-billion-dollar market, where drugmakers are racing to develop more convenient ‌oral options as an alternative to injectables. Lilly said it will seek U.S. approval of Foundayo for type 2 diabetes under the Commissioner’s National Priority Review Voucher, which aims to speed up FDA decisions on drugs deemed critical to public health or national security. Lilly said the trial also included an analysis of potential liver injury and found no liver safety concerns, consistent with earlier studies. This data should allay fears that Foundayo faces ​unique liver safety risks versus competitors ‌like oral Wegovy.

Read more at CNBC

Upcoming Council Programs

Events

Manufacturing Champions Award Breakfast and Workforce Developers Expo - Thursday May 7, 2026 -7:45 - 10:00 AM. West Hills Country Club, Middletown.

Networks

HR Sub Council Meeting Topic TBD, April 23, 2026, 8:15 - 11:00 AM. Location Ulster BOCES Career Academy, iPark 87, Kingston.

Insight Exchange - On Demand Webinars

CMMC for Legacy Equipment: Securing Specialized Assets with Zero Trust Micro-Enclaves - Presented by Marc Hoover, Trout Software.

See previous episodes here!

Training

Certificate in Manufacturing Leadership Program Spring Session, In Person at iPark 87 in Kingston. Supervisor Training Program for Hudson Valley Manufacturers. 7 Courses (8 full day sessions) April 29 - July 15.

IBM Seeks To Bring Next-Gen Quantum Computing To Mid-Hudson Valley

IBM has unveiled plans for a new quantum computing facility at its Poughkeepsie campus. The facility is roughly 511,000-square-feet where the company intends to assemble and manufacture its next-generation Starling quantum systems, in what some county officials are calling one of the most significant investments in Dutchess County’s history. The proposal, presented before the Town of Poughkeepsie Planning Board, calls for the demolition of two existing buildings totaling 161,000 square feet to make way for the new facility on the southwest corner of the property. When complete, the building would bring IBM’s total Poughkeepsie footprint to between 3.5 and 3.9 million square feet across 45 buildings. The projected workforce for the new facility is approximately 200 employees.

IBM representative Heather Saunders, who works on quantum systems scaling, provided an overview of quantum computing, a technology that uses quantum mechanical phenomena to solve problems that classical supercomputers cannot. A study by the Boston Consulting Group estimated that quantum computing technology has the potential to create over $500B in economic value across a wide array of sectors. “We’ve been here for over 80 years of innovation and we really want quantum to be that next step,” Saunders said. Saunders also shared renderings of the Starling system, which will be manufactured on-site. The building is designed with a 40-foot maximum height and will be partially excavated below grade to achieve the necessary interior clearance for the equipment without exceeding the town’s height limits.

Read more at Mid-Hudson News

Trade Wars

China’s Economy Grows At 5% In First Quarter, Industrial Output Up 5.7%

China’s economy accelerated in the first quarter of this year, expanding 5% from a year earlier as it largely shrugged off impacts from the Iran war so far, according to data released Thursday. The January-March data released by the government, covering a period during which the Iran war began, was better than what economists expected and was up from the 4.5% growth seen in the October-December quarter. On a quarter-on-quarter basis, China’s economy grew 1.3% in the first three months from the final quarter of last year, the fastest pace in a year.

Also on Thursday, government data showed industrial output in China rose 5.7% in March year-on-year, better than market expectations, as global demand for Chinese exports of electronic equipment, autos, semiconductors and robotics remained strong. Retail sales were up 1.7% from a year earlier, worse-than-estimates and slower than the 2.8% growth in January and February, reflecting sluggish domestic demand for consumer goods.

Read more at The AP

Pentagon Approaches Automakers, Manufacturers to Boost Weapons Production

The Trump administration wants automakers and other American manufacturers to play a larger role in weapons production, reminiscent of a practice used during World War II. Senior defense officials have held talks about producing weapons and other military supplies with the top executives of several companies. The Pentagon is interested in enlisting the companies to use their personnel and factory capacity to increase production of munitions and other equipment as the wars in Ukraine and Iran deplete stocks. The discussions are the latest effort by the administration to put military manufacturing on what Defense Secretary Pete Hegseth has called a “wartime footing.”

The talks were preliminary and wide-ranging, the people said. Defense officials said American manufacturers might be needed to backstop traditional defense companies and asked whether the companies could rapidly shift to defense work. GE Aerospace and the vehicle and machinery maker Oshkosh were among the companies involved in the talks with defense officials. The Defense Department “is committed to rapidly expanding the defense industrial base by leveraging all available commercial solutions and technologies to ensure our warfighters maintain a decisive advantage,” a Pentagon official said.

Read more at Reuters

ASML Lifts 2026 Forecast As Surging AI Chip Demand Boosts New Orders

ASML, the world's largest supplier of chipmaking tools, on Wednesday reported stronger-than-expected first-quarter earnings and lifted its 2026 revenue outlook as artificial intelligence boosts demand for its equipment. The ‌stronger forecast underscores the rapid expansion of the global market for AI and a resulting data-centre boom that is straining ‌supply chains and turbocharging chipmaker valuations.

The Netherlands-based firm, Europe's most valuable by market capitalisation, said 2026 revenue will now be between 36 billion and 40 billion euros ($42 billion-$47 billion), up from a previous forecast of 34 billion to 39 billion euros. Investors view ASML as a "picks-and-shovels" play on AI, as it supplies key equipment to chipmakers such as TSMC, which in turn produces processors for Nvidia and Apple. Other top ASML customers include ⁠memory chip makers Samsung and SK Hynix of South Korea, and Micron and Intel of the U.S.

Read more at Yahoo Finance

L3Harris Technologies Plans $1.3B Solid Rocket Motor Expansion In Virginia

Defense contractor L3Harris Technologies is spending $1.3 billion to increase its solid rocket motor manufacturing capacity at its operations in Orange County, Virginia, Gov. Abigail Spanberger announced Wednesday. The company’s plans include establishing an advanced propulsion campus, which will provide mixing, grinding, casting and final assembly support for SRM production under multiple Department of Defense programs, according to L3Harris’ press release.

L3Harris’ announcement builds on the SRM manufacturer’s $41.2 million expansion plans from April 2024. The company broke ground on five SRM facilities that will be robotically enabled and include a casting and assembly center. The advanced propulsion facilities will be under L3Harris’ new missile solutions business, which the company launched in January as part of an agreement with DOD. L3Harris aims to seek an initial public offering for the new business in the second half of 2026. DOD pledged to back the new entity with $1 billion, which would be converted into stock once the missile solutions enterprise goes public.

Read more at Manufacturing Dive

US Steel To Restart Gary Tin Mill Production

U.S. Steel on Thursday said it will restart tin mill production next year at its Gary, Indiana, complex to serve growing demand for domestic materials. The company plans to spend between $15 million and $20 million to resume Gary Tin Mill operations by early 2027. Tin production has been idled there since late 2022. The move will support 225 jobs at Gary Works, which also does steel and iron production, as well as pay for costs related to equipment inspections, maintenance and materials necessary for production.

U.S. Steel said the planned restart requires “sustained customer interest” in securing long-term domestic tin mill supplies, and it believes it can increase production to meet that demand when market conditions “allow for fair competition.” The company plans to wait until early 2027 to resume production to better align with the annual contracting cycle for tin mill products, such as electrolytic tinplate used in food and aerosol cans.

Read more at Manufacturing Dive

UAW Signals Alabama Mercedes-Benz Plant May Be Next In Push To Unionize

With the ratification of a four-year contract, 3,200 workers at Volkswagen of America’s plant in Chattanooga, Tennessee are card-carrying UAW members. And now, the union expects to use this long-fought victory as a springboard to bolster recruitment efforts among the 25,000 non-union auto workers in the United States. In February, UAW president Shawn Fain told delegates at the union’s annual political conference in Washington D.C. that the end of the nearly two years of negotiations with VW provides momentum to the union’s efforts to organize other workers, particularly in the South.

In May of 2024, just a month after VW workers voted to join the UAW, the union lost an organizing vote at the Mercedes-Benz Alabama plant. But the UAW has not given up in Tuscaloosa or the momentum from VW workers’ unionization, and under U.S. labor law it can soon try again this spring after the required two-year hiatus. Mercedes-Benz U.S. International (MBUSI) says that the Alabama facilities, which assemble the GLE and GLS gasoline SUV families as well as the EQS and EQE electric SUV families, employ approximately 6,100. On March 31, Mercedes-Benz announced intended investments of more than $7 billion into U.S. operations by 2030, of which the Tuscaloosa plant will get about $4 billion.

Read more at Ward’s Auto

Groton CT. Is Trying to Reclaim Its Title as ‘Submarine Capital of the World’

Thirty-five years ago, the end of the Cold War drained this hardscrabble coastal manufacturing town of its chief purpose: building America’s submarines. Now the Navy needs the shipyard along the Thames River to rev its engines back into high gear. The military’s orders have left Groton with a high-stakes challenge: how to resurrect a bygone era of military might in a far-flung seaside town short on workers, homes and transit. Officials in New London County, concerned about the area’s housing and labor shortage, have increased programs that train adults and high-schoolers alike for the trade, while studying how the region can accelerate the construction of new homes.

In its race against China’s advances in maritime technology, the Defense Department is focused on upgrading its nuclear-submarine fleet, and it is the job of Groton-based manufacturer General Dynamics Electric Boat and a slew of local suppliers to keep up. After a string of delays, the Navy recently added $16 billion in funding for Electric Boat to continue work on new submarines, stressing that timely construction is its top priority. Electric Boat President Mark Rayha needs a workforce to match that demand. He told employees in a February memo that the contractor wanted to hire 8,000 workers by the year’s end in Connecticut and another plant in Quonset Point, R.I.

Read More at the WSJ

Prep Work Underway In SC’s Nuclear Reboot Effort With Potential $2.7B Investment

South Carolina’s state-owned utility company hopes to know by the first half of 2028 whether a $2.7 billion deal to revive the state’s failed nuclear expansion will officially go through. Santee Cooper reached an initial agreement in December with New York investment firm Brookfield Asset Management for the purchase of two partially built nuclear reactors at the V.C. Summer nuclear plant in Fairfield County. The utilities abandoned the plant’s expansion in 2017, but not before jointly spending $9 billion on the reactors that never produced a single megawatt.

But the ultimate date of the payment, which Santee Cooper plans to use to remove reactor-related debt from customers’ power bills, remains contingent on Brookfield finalizing its investment decision. Under the negotiated terms, Santee Cooper will maintain an ownership interest in the reactors of up to 25%. This would give customers access to the power the reactors would produce if completed. Today, about 30 workers from Westinghouse, the original designer of the reactors, are on site doing research and prep work. Brookfield bought Westinghouse after the V.C. Summer failure sent it spiraling into bankruptcy.

Read more at South Carolina Daily Gazette

Daily Market Update Apr 17, 2026

The May ’26 natural gas contract is trading up $0.04 at $2.69. The May ‘26 crude oil contract is down $3.78 at $90.91. 

Read more at NRG

Learn more about the Council of Industry Energy Buying Group

Quote of the Day

“By the rude bridge that arched the flood,

Their flag to April’s breeze unfurled,

Here once the embattled farmers stood

And fired the shot heard round the world.”

Ralph Waldo Emerson - American Essayist from his poem 'Concord Hymn.' The first shots of the American Revolution were fired at Concord Mass on April 19th in 1775.

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