A group of trade associations that includes restaurants, wine shops, domestic distillers and bottle providers asked the president to allow European wines and spirits to enter the U.S. duty-free, in the case of spirits, and under most-favored nation rates, for wines, rather than the 15% EU reciprocal tariff rate.
A 40% tariff on transshipped goods could apply to goods that include third-country content above 30%, according to Commerce Secretary Howard Lutnick, speaking on Fox Business Aug. 7.
On Aug. 27, Indian goods that are currently subject to reciprocal tariffs will be tariffed at an additional 25%, on top of the 25% reciprocal tariff set to take effect Aug. 7, the White House announced.
Thompson Hine trade lawyer Dan Ujczo, who has expertise in North American trade and, particularly, automotive trade in the USMCA region, said the way the carve-outs to 25% Section 232 tariffs have been shaking out has surprised him -- and, he believes, has surprised countries that are automaking powerhouses.
Former trade negotiators and government trade advisers from both the Office of the U.S. Trade Representative and Canada described the negotiating process of the last three months as one wherein even Cabinet members couldn't promise that a deal was done.
President Donald Trump, during a call-in interview on CNBC, said that he is going to raise India's 25% reciprocal tariff level "very substantially over the next 24 hours because they’re buying Russian oil, they’re fueling the war machine."
Switzerland's government said it will continue negotiations in the hopes of avoiding 39% U.S. tariffs that begin Aug. 8, which it says will apply to 60% of its exports. Pharmaceuticals, a major product from Switzerland, are not subject to reciprocal tariffs.
Dominic LeBlanc, Canada's minister for U.S.-Canada trade relations, said that while conversations with Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer have been cordial and productive, "we're not yet where we need to go to get the deal that's in the best interest of the two economies."
President Donald Trump, in a social media post, said he intends to substantially hike tariffs on Indian products due to their purchases of Russian oil.
U.S. Trade Representative Jamieson Greer said he doesn't think there will be more deals announced before Aug. 7, when reciprocal tariffs will rise on about 70 countries.