Trade restrictions in pending Section 232 investigations for copper, lumber, semiconductors, pharmaceuticals, critical minerals, heavy-duty trucks, commercial aircraft and engines, polysilicon and drones are a foregone conclusion, but "exactly what those trade measures will look like" has not been decided, Steptoe's Jeff Weiss said during a firm webinar.
Trade observers are waiting for more information about whether Aug. 1 tariffs on Canada and Mexico will include goods that currently qualify for duty-free treatment under USMCA, according to comments by Flexport officials during a July 16 webinar.
Former top trade negotiator Wendy Cutler, who, as a career employee in the Office of the U.S. Trade Representative led on the South Korea-U.S. free trade agreement and the Trans-Pacific Partnership, said that South Korea can't make concessions to avoid 25% tariffs on its exports if the 25% Section 232 tariffs on autos and 50% tariffs on steel go unchanged in the deal.
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President Donald Trump said the trade deal he and Indonesia's president reached will provide U.S. exporters "full access," access exporters never had.
The Port of Los Angeles could experience one last import surge ahead of the Aug. 1 deadline for the White House's potential rate increases on its reciprocal tariffs, port Executive Director Gene Seroka said during the port's monthly cargo briefing.
It remains unclear how the U.S. will apply a new 30% Aug. 1 tariff rate for Mexico that President Donald Trump announced over the weekend in one of his tariff letters.
The U.S. will increase blanket reciprocal tariff rates for countries that haven’t received a tariff letter to 15% or 20%, President Donald Trump said in a phone interview with NBC News July 10, the broadcast news outlet reported.
President Donald Trump on July 11 appeared to leave open the possibility that USMCA goods will remain exempt from a higher 35% tariff on Canada that he announced the previous day.
The U.S. Court of Appeals for the Federal Circuit fielded a total of 20 amicus briefs regarding the lawsuit against the tariffs President Donald Trump imposed under the International Emergency Economic Powers Act, 18 of which supported the importers and U.S. states challenging the tariffs. The amicus briefs came from 191 current members of Congress, various business interests, former government officials, advocacy groups and economists (V.O.S. Selections v. Donald J. Trump, Fed. Cir. # 25-1812).