President Donald Trump posted on social media over the weekend that if the EU doesn't stop its "discriminatory actions" of fines against Apple, Google and other tech companies, "I will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies" (see 2509050071).
Commerce Secretary Howard Lutnick said on Bloomberg Television that he would be meeting with Switzerland's vice president later on Sept. 5, but he wasn't hopeful that the country would get a reprieve from 39% tariffs.
House Foreign Affairs Committee ranking member Rep. Gregory Meeks, D-N.Y., who has led the charge to terminate the underlying emergencies for the president's tariffs, said he doesn't know if Republicans will change course and allow a vote on his latest resolution, which would end the 40% tariffs on about 39% of Brazilian imports.
Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.
Rep. Greg Steube, R-Fla., a member of the House Ways and Means Subcommittee on Trade, told International Trade Today that Subcommittee Chairman Adrian Smith, R-Neb., is looking to pass a renewal of the African Growth and Opportunity Act "now that we got the big, beautiful bill through," adding that Smith has wanted to do this "for a while."
House Ways and Means Committee members met with Mexico's Economy Minister Marcelo Ebrard about the upcoming sunset review of USMCA, and two Republicans on the committee said most of the conversation was about how useful the free trade agreement is.
Democrats in the Senate are arguing that it's time to pass a bipartisan bill that would authorize up to 500% tariffs on goods from countries that buy Russian oil and gas and aren't providing aid to Ukraine to defend itself.
Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.
President Donald Trump touted the secondary tariffs on India, the second-largest purchaser of Russian oil, as action to show his frustration with Russian President Vladimir Putin's continued aggression, when asked by a Polish reporter why he hadn't taken action against Russia to stop the war.
The House Appropriations Committee released a summary of its plans for several agencies on Sept. 1, and said it intends to eliminate funding for the Bureau of International Labor Affairs. That bureau, commonly known as ILAB, prepares the annual report on products made with the worst forms of child labor and forced labor. It also has an app to help companies called "SourceRight."