Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.
Rep. Greg Steube, R-Fla., a member of the House Ways and Means Subcommittee on Trade, told International Trade Today that Subcommittee Chairman Adrian Smith, R-Neb., is looking to pass a renewal of the African Growth and Opportunity Act "now that we got the big, beautiful bill through," adding that Smith has wanted to do this "for a while."
House Ways and Means Committee members met with Mexico's Economy Minister Marcelo Ebrard about the upcoming sunset review of USMCA, and two Republicans on the committee said most of the conversation was about how useful the free trade agreement is.
Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.
Democrats in the Senate are arguing that it's time to pass a bipartisan bill that would authorize up to 500% tariffs on goods from countries that buy Russian oil and gas and aren't providing aid to Ukraine to defend itself.
President Donald Trump touted the secondary tariffs on India, the second-largest purchaser of Russian oil, as action to show his frustration with Russian President Vladimir Putin's continued aggression, when asked by a Polish reporter why he hadn't taken action against Russia to stop the war.
The House Appropriations Committee released a summary of its plans for several agencies on Sept. 1, and said it intends to eliminate funding for the Bureau of International Labor Affairs. That bureau, commonly known as ILAB, prepares the annual report on products made with the worst forms of child labor and forced labor. It also has an app to help companies called "SourceRight."
President Donald Trump said that the administration will petition the Supreme Court on Sept. 3 to make an "expedited ruling" on the legality of tariffs he imposed on every country through the International Emergency Economic Powers Act.
Rep. Hillary Scholten, D-Mich., is asking the House Ways and Means chairman to direct the International Trade Commission to conduct a fact-finding investigation on the economic impacts of Peruvian blueberry exports on American blueberry growers.
Five House Democrats, including Rep. Gregory Meeks, ranking member of the House Foreign Affairs Committee, introduced a resolution to terminate the emergency that allowed President Donald Trump to hike tariffs on some Brazilian goods from 10% plus most-favored nation tariffs to 50% plus MFN.