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 European Union, in a fact sheet released July 29, said that tariffs on EU exports to the U.S. will change from 10% plus the most-favored nation tariff to 15%, except for goods that have an MFN rate higher than 15%, and for aircraft and aircraft parts, certain generic drugs and natural resources. In the case of those exceptions, the standard MFN rates apply.

Treasury Secretary Scott Bessent told reporters in Stockholm, Sweden, that the Chinese delegation spoke too early when they said the two sides agreed to another 90 days at current tariff levels, because the president is the one to decide. However, in a later interview with CNBC, Bessent said the meetings had been "highly satisfactory."

President Donald Trump, speaking to reporters in Scotland July 28, said that he expects the global tariff for small countries to be "in the range of 15 to 20%."

European Commission President Ursula von der Leyen said "all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural products, natural resources and critical raw materials" from EU countries will be duty-free in the U.S. as part of a trade deal between the two sides.

CBP upheld its June 2024 ruling that the customer who buys the medication at retail -- not the retail pharmacy -- is the ultimate purchaser, and as a result, retail pharmacies must list the medicine's country of origin on the prescription label. This is the case even if the FDA's Drug Supply Chain Security Act doesn't require country of origin on the prescription label, according to CBP.

President Donald Trump, speaking with reporters July 25 before boarding a flight to Scotland, downplayed the possibility of reaching an agreement to impose lower than his threatened 30% tariff on EU exports.

Rep. Suzan DelBene, D-Wash., a lead sponsor of the Prevent Tariff Abuse Act, has convinced 71 other Democrats to join her in clarifying that the International Emergency Economic Powers Act doesn't give a president the ability to impose quotas, tariff rate quotas or tariffs on imports.

Although a majority of the Senate voted to end the underlying emergency that allowed the president to impose 25% tariffs on Canadian goods, a vote was blocked in the House.

Lawmakers expressed concerns this week that the Federal Maritime Commission may not have enough resources to continue reforming ocean shipping regulations and enforcing existing shipping laws, particularly after a host of employees resigned from the agency this year.