Sen. Chuck Grassley, R-Iowa, and Sen. Maria Cantwell, D-Wash., introduced a bill that would have future sections 232, 301 and 338 or International Emergency Economic Powers Act (IEEPA) tariffs expire after 60 days unless Congress were to approve the tariffs imposed by the president.
President Donald Trump's use of the International Emergency Economic Powers Act (IEEPA) to enact his sweeping "retaliatory" tariffs (see 2504020086) has drawn serious speculation about whether the statute can serve as a proper basis for invoking the tariffs. Trade lawyers told us that potential issues arising from the use of IEEPA include the existence of tariff-making authority to address trade deficits under Section 122 of the Trade Act of 1974, the "major questions" doctrine and the way in which the tariffs were calculated.
A former Trump trade negotiator, Kelly Ann Shaw, described as "one of the key architects of the Administration’s trade, investment, energy and national security policies" in Trump's first term by her current law firm, said the reciprocal tariffs announced April 2, based on goods trade deficits, are not the same tariffs that will be in place weeks, months or years from now.
A day after President Donald Trump announced sweeping tariffs upon dozens of trading partners, including countries that the U.S. has historically had friendly relations with, customs brokers and importers have numerous questions, such as whether ACE has the ability to verify values accurately and what role drawback might have as companies respond to the tariffs.
A resolution that would eliminate the fentanyl smuggling and migration emergency for Canada, and thereby end 25% and 10% tariffs on Canadian goods, passed the Senate April 2, 51-48.
An executive order signed by President Donald Trump April 2 ends de minimis treatment for goods from China and Hong Kong starting May 2 at 12:01 a.m. EDT, according to a White House fact sheet.
The annex to the Section 232 auto tariff proclamation has been released, listing tariff subheadings subject to the 25% tariffs on passenger vehicles and light trucks beginning April 3, and setting the effective date for tariffs on auto parts at May 3 (and also listing the subheadings covered by those tariffs).
Higher reciprocal tariffs announced by President Donald Trump will be imposed at the following rates beginning April 9, according to handouts distributed at the White House event announcing the tariffs (all countries with only the 10% universal tariff are omitted from the table):
The U.S. will impose additional 10% tariffs on most imports, but not on Mexican and Canadian goods, information goods like books, music or films, or any goods either subject to Section 232 tariffs or among goods that Trump is considering protecting under Section 232, including pharmaceuticals, copper, lumber, semiconductors, certain critical minerals, and energy and energy products.
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.