U.S. Trade Representative Jamieson Greer said the U.S. intends to "have a longer-term reset to higher tariff rates," no matter the outcome of the Supreme Court case on the president hiking tariffs via the International Emergency Economic Powers Act. He said his general counsel said he's not allowed to discuss publicly how the administration would replace IEEPA tariffs.
President Donald Trump late on Jan. 19 threatened to impose 200% tariffs on French wine and champagne if French President Emmanuel Macron doesn’t join Trump’s Board of Peace.
CBP issued the following releases on commercial trade and related matters:
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France's President Emmanuel Macron, speaking at a conference in Davos, Switzerland, called the deal reached last summer to drop tariffs on U.S. exports to the EU while acceding to 15% tariffs on European exports a deal which "openly aim[s] to weaken and subordinate Europe," and added that unless the EU stands up, there will be "an endless accumulation of new tariffs that are fundamentally unacceptable, even more so when they are used as leverage against territorial sovereignty."
President Donald Trump, in a more than hourlong speech at the White House, said it'll be very sad if the Supreme Court rules against the use of tariffs under the International Emergency Economic Powers Act. "We're waiting for that case anxiously," he said. He argued that the IEEPA statute allows the government to require licenses for imports, and tariffs are "probably less severe." If the Supreme Court rules against him, "It's possible we're going to do the best we can in paying it back," he said, though he said it would be hard.
President Donald Trump, in a social media post, said he will impose 10% tariffs on Denmark, Norway, Sweden, France, Germany, the U.K. the Netherlands and Finland starting Feb. 1, rising to 25% on June 1. He said the tariff will remain "until such time as a Deal is reached for the Complete and Total purchase of Greenland. The United States has been trying to do this transaction for over 150 years. Many Presidents have tried, and for good reason, but Denmark has always refused. Now, because of The Golden Dome, and Modern Day Weapons Systems, both Offensive and Defensive, the need to ACQUIRE is especially important."
President Donald Trump, at an event in the Oval Office about rural health care, segued from talking about how he pressured the president of France to have his health system pay more for pharmaceuticals to talking about imposing tariffs on countries that are resisting his plans for Greenland.
If the Supreme Court eliminates the president's ability to impose tariffs under the International Emergency Economic Powers Act, it may not mean the return of the de minimis exemption, which President Donald Trump also ended via IEEPA, trade lawyers told us.
CBP says it has updated the ACE Certification environment to enhance duty calculation validation. Next month, the enhancement will be added to the ACE Production environment, according to a Jan. 16 cargo systems message.