Going from zero tariffs on most Canadian and Mexican imports to 25% convulsed Capitol Hill and foreign capitals, with some Republicans diverging from the president's protectionist message and Democrats universally using the action to attack Trump as the reason prices will go up.
The House Committee on Homeland Security issued its oversight plan for the year, and only mentioned trade once, when it wrote that it plans to "review the Department’s efforts to better facilitate legitimate trade and travel with updates to trusted traveler programs and expansion of CBP Preclearance locations."
President Donald Trump, contrary to his commerce secretary's suggestion a day earlier that tariffs might be lower than 25% on Mexican and Canadian goods over border issues, told reporters March 3 that "tomorrow, tariffs, 25% on Canada, 25% on Mexico" will be imposed.
Sen. Chris Coons, D-Del., said that Senate Finance Committee Chairman Mike Crapo, R-Idaho, blocked his effort to pass a bill through the Senate unanimously that would require Congress to approve tariffs imposed on free-trade partners like Mexico and Canada, or on NATO and major non-NATO allies.
The National Council of Textile Organizations, joined by its Canadian and Mexican counterparts, urged President Donald Trump not to impose 25% tariffs on imports in the region.
Sen. Bill Cassidy, R-La., joined by Sens. Raphael Warnock, D-Ga., Dick Durbin, D-Ill., and Rick Scott, R-Fla., introduced a renewal of a trade preferences program for Haiti this week.
President Donald Trump said he's "very receptive" to reaching a trade deal with the United Kingdom that would mean hiking tariffs on the U.K. wouldn't be necessary. Trump and U.K. Prime Minister Keir Starmer held a joint press conference after their meeting Feb. 27, which Starmer opened by emphasizing that trade is fair and balanced between the two countries.
WilmerHale International Trade Practice leader David Ross told panelists on a discussion of reciprocal trade that, "contrary to some earlier expectations, there are indications that the president is not planning to do a line-by-line" tariff adjustment to match tariff levels of trading partners, but, rather, to seek to quantify the costs of higher tariffs and other policies he sees as trade barriers, and to put a single tariff rate on the country's products.
A major rewrite of antidumping duty and countervailing duty laws, first introduced five years ago but only passed in one chamber (see 2203030053), was reintroduced this week by Sen. Todd Young, R-Ind., and Sen. Tina Smith, D-Minn.
Lobbyists from Foley & Lardner told a webinar audience that they expect tariffs under the push for reciprocal trade to be implemented "as early as June or July."