Ahead of a late afternoon vote to end the trade deficit emergency that the president used to impose 10% tariffs on all countries other than Canada and Mexico, and used to impose 125% tariffs on Chinese imports, resolution co-sponsor Sen. Elizabeth Warren, D-Mass., said all Democrats will be voting in favor of "rolling back Donald Trump's ability to use an emergency declaration to play 'Red Light, Green Light' with tariffs and wreck our economy. The question is, how many Republicans will join us?"
Auto companies are feeling like they're being yanked around with ever-changing tariffs, said Rep. Debbie Dingell, D-Mich., who was a senior public affairs executive at GM before becoming a politician. "Every business, whether small business or large business, needs certainty," she said, but instead, lawyers are scrambling to figure out what the impact is of the changing tariffs. She said she has talked to lawyers every day since this began.
Former U.S. Trade Representative Robert Lighthizer, who served in that role in President Donald Trump's first term, told an audience at the Council on Foreign Relations that he thinks "there’s a reasonable chance the CIT would enjoin" tariffs levied under the International Emergency Economic Powers Act, or IEEPA. Trump used IEEPA to levy 25% tariffs on Canada and Mexico over fentanyl and migration, as well as 20% tariffs on China over fentanyl, and used it to levy 10% tariffs on countries other than those three, and an additional 125% tariffs on Chinese goods.
Automakers who build cars in America and import parts to do so will get a partial credit against the costs of 25% Section 232 tariffs on non-USMCA qualifying parts -- but the Commerce Department will examine companies' projections of both how many cars and light trucks they expect to build in the U.S. between April 3, 2025 and April 30, 2026, and the aggregate value of the MSRP of those vehicles.
Automakers who build cars in America and import parts to do so will get a partial credit against the costs of 25% Section 232 tariffs on non-USMCA qualifying parts -- but the Commerce Department will examine companies' projections of both how many cars and light trucks they expect to build in the U.S. between April 3, 2025, and April 30, 2026, and the aggregate value of the MSRP of those vehicles.
The House Homeland Security Committee released its budget reconciliation recommendations, part of the process to extend Trump tax cuts and possibly, add new tax cuts. That committee, however, is adding spending, both for screening cargo and hiring CBP Office of Field Operations officers.
Treasury Secretary Scott Bessent said in a TV interview that "an agreement in principle" can be reached with 17 trading partners to prevent "the tariffs there from ratcheting back to the maximum level."
Sen. Elizabeth Warren, D-Mass., asked Treasury Secretary Scott Bessent to answer questions about why he told Wall Street investors that the U.S. is looking to de-escalate the trade war with China, and asked him to confirm if other executives heard information about progress toward a trade deal with India.
Sen. Elizabeth Warren, D-Mass., asked Apple CEO Tim Cook about his private lobbying on tariffs on Chinese imports, and the fact that the carveout for the tariffs for electronics affected phones, computers and smart watches, which Apple makes, but not video game consoles.
George Bogden, the executive director of CBP's Office of Trade Relations, is no longer employed at the agency, the administration said April 24.