President-elect Donald Trump, in a social media posting Dec. 20, wrote: "I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way!!!"
More than a dozen groups are asking President-elect Donald Trump to bolster intellectual property protections within the first 100 days of his presidency as part of a wider effort to combat counterfeit trade, they said in a Dec. 19 letter.
President Joe Biden called for the creation of a new task force to counter foreign economic coercion, which he said will help the U.S. better respond to coercive measures by “countries of concern,” including China.
Tariffs promised by President-elect Donald Trump would result in increased prices for U.S. consumers, experts warned in an analysis of current trade flows and tariff rates.
President-elect Donald Trump said the U.S. is "subsidizing Canada to the tune [of] over $100 billion a year. We’re subsidizing Mexico for almost $300 billion. We shouldn’t be -- why are we subsidizing these countries? If we’re going to subsidize them, let them become a state."
President-elect Donald Trump is most likely to announce 25% tariffs on Canadian and Mexican goods the day he takes office, "then immediately suspend them -- with a deadline -- to allow for a negotiation," Bill Reinsch, a think tank leader who often opines on trade, wrote this week.
Peter Navarro, a former academic economist who served in the first Trump administration (see 1911060059 and 2002030056), will return as a trade adviser in the second administration, President-elect Donald Trump announced Dec. 4.
President-elect Donald Trump posted on Truth Social that he will block the purchase of U.S. Steel by Nippon Steel, though it's possible President Joe Biden will take care of that before Trump is inaugurated.
President Joe Biden nominated Jim Coughlan, the Export-Import Bank's general counsel, and Haile Craig, a Republican nominee, for the International Trade Commission on Nov 21.
Import quotas for polyester staple fiber under a safeguard announced Nov. 8 will start at zero in year one, then go to 453,592 in the second year, 907,185 in the third and 1,360,777 in the fourth and last year the safeguard is planned to be in effect, according to an annex to President Joe Biden's proclamation released Nov. 13 ahead of its publication in the Federal Register. The quotas and associated adjustments to the Harmonized Tariff Schedule take effect on Nov. 23 for imports of polyester staple fiber admitted temporarily free of duty under bond that are entered under subheading 9813.00.0520 (see 2411120039).