The Trump administration's decision to pause most reciprocal tariffs on April 9 was a "well-planned move" and not a reaction to the bond market, National Economic Council director Kevin Hassett said in an interview with CNBC April 10.
President Donald Trump said that the 10% universal tariff rate that he imposed on April 2 is not necessarily permanent, depending on what other countries are willing to give the U.S. in return for removal.
China raised the tariff rate on U.S.-origin goods, from 34% to 84%, in response to President Donald Trump's April 8 executive order raising reciprocal rates by 50% (see 2504080079), the Office of the Tariff Commission of the State Council announced April 9. The new tariffs will take effect at 12:01 a.m. April 10, the commission said, according to an unofficial translation.
The Commerce Department soon will suspend liquidation and impose antidumping duty cash deposit requirements on imports of corrosion-resistant steel products from Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, the United Arab Emirates and Vietnam, it said in a fact sheet issued April 4.
The European Commission has proposed 25% retaliatory tariffs on some U.S. goods in response to the tariffs on steel and aluminum President Donald Trump imposed last month (see 2503120042), according to a document seen by Reuters, the news service reported April 7.
Latin American countries are quietly breathing a sigh of relief that President Donald Trump's Liberation Day tariffs are focused primarily on other parts of the world, which may even give the region a comparative advantage.
China retaliated against President Donald Trump's reciprocal tariffs with duties of 34% on all U.S. goods, along with new export restrictions on U.S. companies and rare earth metals.
Tariffs cause ripple effects throughout the international trade and business communities beyond just the levies on goods at the time of entry, experts said during a Zencargo "Tariff Talk" webinar on March 31.
Authorities in Beijing watching the Trump administration "sabotage itself" with tariffs on allies and redefinition of the international order are in no hurry to establish a U.S.-China trade deal, experts said at a March 31 event.
The Commerce Department will soon suspend liquidation and impose countervailing duty cash deposit requirements on imports of slag pots from China, it said in a fact sheet issued March 28. The CVD rates will be set at 226.16% for Chinese exporters, the agency said as it announced its preliminary determinations in its ongoing CVD investigations. Suspension of liquidation and cash deposit requirements will take effect for entries on or after the date of publication of the preliminary determinations in the Federal Register, which should occur in the coming days. Commerce is conducting concurrent antidumping duty investigations on the same product from China, with a preliminary determination expected by June 10.