President Donald Trump denied having said he would impose Russia-related secondary tariffs of 100%, but said a decision on what tariffs would be imposed for countries buying Russian energy would be decided on Aug. 6.
The following lawsuits were filed at the Court of International Trade during the week of July 28 - Aug. 3.
CBP issued the following releases on commercial trade and related matters:
A listing of recent Commerce Department antidumping and countervailing duty messages posted on CBP's website Aug. 4, along with the case number(s) and CBP message number, is provided below. The messages are available by searching for the listed CBP message number at CBP's ADCVD Search page.
CBP has provided updated guidance on reciprocal tariffs that includes additional information on what goods are exempt, according to an Aug. 4 cargo systems message.
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.
Former trade negotiators and government trade advisers from both the Office of the U.S. Trade Representative and Canada described the negotiating process of the last three months as one wherein even Cabinet members couldn't promise that a deal was done.
President Donald Trump, during a call-in interview on CNBC, said that he is going to raise India's 25% reciprocal tariff level "very substantially over the next 24 hours because they’re buying Russian oil, they’re fueling the war machine."
The recent trade deal announced between the U.S. and South Korea avoided the worst-case scenarios on the table and maintains comparative advantage with competitors, according to economists and experts on U.S.-Korea relations at the Center for Strategic and International Studies.
The Section 232 tariffs on copper and its derivatives appear to have been developed under a greater understanding of how U.S. manufacturing works, according to trade expert Cindy Allen, who appeared on an Aug. 1 "Simply Trade" podcast episode to discuss the numerous U.S. trade actions that occurred last week.