White House National Economic Council Director Kevin Hassett told an Axios interviewer that the administration was taken aback by China's announcement of extraterritorial export controls on products made with rare earths processed in China.
Pharmaceutical company AstraZeneca reached a deal with the Trump administration that will delay Section 232 tariffs for three years, the company announced in an Oct. 10 press statement.
A White House official said that active pharmaceutical ingredients imported into the U.S. for medicine manufacturing will be covered by the Section 232 tariffs on branded pharmaceuticals.
President Donald Trump and Brazil's President Luiz Inácio Lula da Silva had a "friendly" talk for 30 minutes Oct. 6, according to an unofficial translation of a Brazilian readout. Trump wrote on social media, "This morning, I had a very good telephone call with President Lula, of Brazil. We discussed many things, but it was mostly focused on the Economy, and Trade, between our two Countries. We will be having further discussions, and will get together in the not too distant future, both in Brazil and the United States. I enjoyed the call — Our Countries will do very well together!"
There will be some rapprochement on trade between India and the U.S. by the end of the year, but nothing substantive, former U.S. trade negotiators predicted during an Oct. 3 webinar.
Pharmaceutical tariffs were not applied on Oct. 1, as previously threatened by the Trump administration (see 2509250066), to give companies time to continue negotiating and begin on-shoring their manufacturing, according to recent statements by Commerce Secretary Howard Lutnick.
A White House official confirmed that the Trump administration supports a one-year renewal of the African Growth and Opportunity Act. This puts the White House in line with congressional support for the program (see 2510010005), which expired Oct. 1.
President Donald Trump posted on social media that U.S. soybean growers are hurting "because China is, for 'negotiating' reasons only, not buying. We’ve made so much money on Tariffs, that we are going to take a small portion of that money, and help our Farmers. I WILL NEVER LET OUR FARMERS DOWN!"
Pfizer announced that, after agreeing to expand manufacturing and change its pricing strategy, its imported drugs will not be tariffed.
President Donald Trump posted on social media that he is going to impose a 100% tariff on "any and all movies that are made outside of the United States," a repeat of a declaration he made on social media in May but didn't follow through on (see 2505050003). In the earlier post, he called foreign filming a national security threat, but in this one, he gave no clue what authority he would use.