A U.S.-U.K. trade deal announced in the Oval Office leaves the average tariff on U.K. goods at 10%; however, aerospace engines and parts will enter duty-free.
Under aggressive questioning from Rep. Ayanna Pressley, D-Mass., Treasury Secretary Scott Bessent said that exempting tariffs on car seats, cribs, high chairs and other essential baby items "is under consideration."
Vice President JD Vance, at a Q&A with Wolfgang Ischinger, a former German ambassador to the U.S., said it should be "very, very easy" to talk with officials at the EU about the bloc lowering its regulatory barriers to trade and its approach to U.S. tech giants.
President Donald Trump, responding to a reporter's quote from Treasury Secretary Scott Bessent that the administration is considering tariff exemptions for car seats from China [see Ref:2505060052]), said he doesn't know if he wants to do that.
Treasury Secretary Scott Bessent, after an evening announcement that he would travel to Switzerland to have trade talks with China on May 10 and 11, said that at current levels of tariffs, there's a trade embargo between the two countries.
President Donald Trump, ahead of a meeting with Canadian Prime Minister Mark Carney, denied that his tariff actions against Canada and Mexico have killed USMCA, but also cast doubt on its future. He said USMCA "was a transitional deal" to move away from NAFTA, and said "we'll see what happens" with the renegotiation. He said it could be adjusted, or terminated.
Treasury Secretary Scott Bessent, in a talk moderated by Mike Milken, a former trader pardoned by President Donald Trump for long-ago securities fraud, said that trade, tax cuts and deregulation are "interlocking parts of an engine designed to drive long-term investment in the American economy."
Both the Japanese government and Japanese reporters' coverage of Japan's more than two-hour talk with the U.S. trade representative, commerce secretary and treasury secretary describe politicians who are not in a hurry to settle to avoid 24% tariffs under the reciprocal tariff plan that is scheduled to take effect in early July.
President Donald Trump, in a social media post, complained that other countries are offering "all sorts of incentives to draw our filmmakers and studios away from the United States," and that Hollywood and other U.S. regions "are being devastated." He said this is national security threat. "It is, in addition to everything else, messaging and propaganda! Therefore, I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands. WE WANT MOVIES MADE IN AMERICA, AGAIN!"
There "very well could be" a trade deal announced this week, President Donald Trump told reporters on Air Force One as he traveled back from Florida to Washington on May 4, but he said these won't be tariff negotiations that lead to a signing ceremony, in most cases.