Republican presidential nominee Donald Trump, in a sit-down interview with Bloomberg shortly before the attempt on his life, argued that tariffs are "phenomenal" economically -- "and man, is it good for negotiation."
Dan Ujczo, senior counsel in Thompson Hine's trade practice, said he expects a second Biden or Trump administration to say it won't authorize USMCA to continue for another 16 years in 2026, when the trade pact is up for review.
Although it's possible presidential candidate Donald Trump was just riffing when he proposed eliminating the federal income tax and replacing the revenue with tariffs, the White House Council of Economic Advisers is countering the idea with a white paper it issued July 12.
National Council of Textile Organizations CEO Kimberly Glas, speaking at a left-of-center think tank on trade policy, said that companies need to be able to file antidumping and countervailing duty cases without having to wait so long and pay so much money.
Canada's half-hearted attempts to comply with dairy tariff rate quotas and the refusal of the U.S. to comply with the auto rules of origin ruling are undermining the USMCA and could make its review more painful, panelists from Canada and Mexico said this week.
The top Republican on the Senate Finance Committee said that while Democrats' insistence that Trade Adjustment Assistance be paired with a renewal of the Generalized System of Preferences benefits program has stalled it so far, he's not convinced that the impasse means GSP has no chance in 2024.
An apparel factory owner and a trade policy professional from the apparel industry said it's critical to renew Haitian trade preferences this year, even though they don't expire for 14 months.
The House Ways and Means Committee passed a resolution to undo Treasury Department guidelines on foreign entity of concern involvement in electric vehicle supply chains. The committee passed the bill July 9 on a 25-14 vote.
Days after the House speaker said he wished to move a bill that would end de minimis eligibility for products subject to Section 301 tariffs (see 2407080049), the ranking member and other Republicans on the Senate Finance Committee said the idea has merit.
Tariff carve-outs for Mexican steel and aluminum in the Section 232 action will be curtailed, so that only steel that is melted and poured in North America can qualify, and so that aluminum that was smelted or cast in China, Russia, Belarus but worked again in Mexico will be taxed at higher rates.