CHANDLER, Ariz. -- As President Donald Trump’s tariffs and his related trade rhetoric prompt a trade war, the potential for cyberattacks within the U.S. trade industry could increase, according to a panelist speaking at the National Customs Brokers & Forwarders Association of America’s annual meeting.
A “major” tariff on pharmaceuticals will be announced “very shortly,” President Donald Trump said April 8.
Only 13 hours after reciprocal tariffs of 11% to 84% began, President Donald Trump said he is pausing the higher country-specific tariffs for 90 days -- except for China, whose total emergency tariff will go from 104% to 125%, according to a White House spokesperson. The baseline additional 10% tariff -- which applies to nearly all countries, but not Mexico and Canada -- remains in place.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
The additional 50% tariffs that President Donald Trump threatened on China if Beijing doesn't rescind its retaliatory tariffs (see 2504070016) will take effect at 12:01 a.m. April 9, White House Press Secretary Karoline Leavitt said during an April 8 press conference. "They will be going into effect at 12:01 a.m. tonight, so effectively tomorrow," she said when asked if the executive order to impose them had already been signed. No executive order had been issued as of press time.
President Donald Trump shared on social media April 8 that he'd just talked to South Korea's acting president on the phone, and they had discussed not just trade and possible purchases that would lower Korea's trade surplus, but also payment for U.S. military bases in their country.
The $1.5 million and $1 million docking fees proposed under the Section 301 shipbuilding case (see 2502240006) are "just those -- they're proposed actions," U.S. Trade Representative Jamieson Greer told Sen. Bill Cassidy, R-La., during an appearance in front of the Senate Finance Committee April 8.
After a resolution to roll back the tariffs on Canada passed the Senate, Senate Democrats and Sen. Rand Paul, R-Ky., are pushing for a similar vote to end reciprocal tariffs and a global 10% tariff, as are 26 Democrats in the House.
Republicans on the Senate Finance Committee mostly stood by President Donald Trump's dramatic tariff moves, though many emphasized that the result should be lower non-tariff barriers for U.S. agricultural exports, not a permanent tariff wall around the U.S. economy.
An exemption from reciprocal tariffs for goods in transit on the tariffs’ effective dates of April 5 and April 9 will only apply to goods entered before May 27, CBP said in a CSMS message providing additional guidance on the tariffs.