The White House says that imports from Japan will be subject to a baseline 15% tariff rate, in a fact sheet published July 23, the day after the president heralded the deal on Truth Social.
President Donald Trump reached a deal with Japan, which reduces 25% tariffs on cars to 15% -- including the 2.5% MFN rate -- with no quota on imports, according to a poster shared by a White House official on X, and a clarification about the details of the car arrangement from Japan's prime minister.
Orange juice importers Johanna Foods and Johanna Beverage Company on July 22 asked the Court of International Trade to either temporarily, preliminarily or permanently enjoin the federal government from "imposing and enforcing" President Donald Trump's threatened 50% tariff on Brazil. Filing a combined application for a temporary restraining order and motions for a preliminary or permanent injunction, Johanna Foods and Johanna Beverage said the tariff isn't a proper exercise of either Section 301 or the International Emergency Economic Powers Act (Johanna Foods v. Executive Office of the President of the United States of America, CIT # 25-00155).
A joint statement from Indonesia and the U.S. sheds more light on what the president might have meant when he wrote "if there is any Transshipment from a higher Tariff Country, then that Tariff will be added on to the Tariff that Indonesia is paying."
Treasury Secretary Scott Bessent on Fox Business said the administration is "about to announce a rash of trade deals in the coming days."
The U.S. filed its reply brief in the lead case on the legality of President Donald Trump's tariffs imposed under the International Emergency Economic Powers Act, arguing, among other things, that the Court of International Trade doesn't have the power to issue a nationwide injunction vacating the tariffs and that IEEPA plainly allows the president to impose tariffs (V.O.S. Selections v. Donald J. Trump, Fed. Cir. # 25-1812).
Although potential reciprocal tariff increases have been pushed back to Aug. 1, ocean spot rates between Asia and the U.S. West Coast have been falling, suggesting a relaxation in demand for shipping containers, according to two companies tracking ocean rates.
The Senate Appropriations Committee passed a bill to increase funding for the Office of the U.S. Trade Representative by $6 million, more than 10%, and to increase funding for the Bureau of Industry and Security, which handles Section 232 action, by $20 million -- almost 10%.
House Foreign Affairs Committee ranking member Rep. Gregory Meeks, D-N.Y., is trying to force votes in the House to end the emergency that justifies reciprocal tariffs and on a bill that would hike tariffs to 500% on Russian products.
U.S. retailers will move their supply chains out of Africa and into Asia should Congress not renew the African Growth and Opportunity Act or change the third-country fabric provision for the region, according to trade groups representing domestic U.S. apparel retailers.