A Polish official expressed optimism that the U.S. and European countries could hash out a trade deal soon, even as the 90-day timeline for the pause of reciprocal tariffs ends in less than a month.
The U.S. and China reached an agreement for Beijing to rein in export curbs on critical minerals, and for the U.S. to "provide to China what was agreed to," President Donald Trump said June 11, offering few details about the substance of the deal.
The U.S. Court of Appeals for the Federal Circuit's stay of the Court of International Trade decision vacating all International Emergency Economic Powers Act tariff action likely doesn't signal a win for either side on the merits of the issue, various attorneys told us. In addition, the court's move to set a July 31 oral argument date and have all active judges hear the case indicates a decision will likely be issued in August, the attorneys said.
Treasury Secretary Scott Bessent said that if 18 major trading partners negotiate in good faith, "it is highly likely ... we will roll the date forward to continue in good faith negotiations." He was referring to the July 9 deadline when country-specific reciprocal tariffs above 10% are due to return.
The last time President Donald Trump attended a Group of 7 meeting in Canada, he insulted Canada's prime minister on social media as he flew home -- then, as now, the relationship with allies was strained due to U.S. tariffs (see 1806110028). It also was the only time a member refused to sign the leaders' communiqué.
As the U.S. Court of Appeals for the Federal Circuit mulls the government's emergency stay motion against a Court of International Trade decision permanently enjoining tariffs issued under the International Emergency Economic Powers Act, five different groups of amici filed briefs at the appellate court either attacking or defending the trade court's ruling.
The parties contesting the government's emergency stay motion at the U.S. Court of Appeals for the Federal Circuit of the Court of International Trade's ruling on the president's use of the International Emergency Economic Powers Act tariffs "mischaracterize" statements made by administration officials on the effect of the CIT's ruling, the U.S. said. Responding to claims from 12 U.S. states and a group of importers, the government argued that the trade court's injunction against the IEEPA tariffs is "legally untenable and risks irreparable economic and national-security harms" (V.O.S. Selections v. Donald J. Trump, Fed. Cir. # 25-1812).
The U.S. Court of Appeals for the Federal Circuit on June 10 stayed the Court of International Trade's permanent injunction on all of President Donald Trump's executive orders implementing tariffs under the International Emergency Economic Powers Act pending the appeal of the case. In a per curium order, all CAFC judges in regular active service said "a stay is warranted under the circumstances." In addition, the court said all active judges will hear the case, as opposed to the court's traditional three-judge panel approach, in light of the "issues of exceptional importance" presented by the matter.
U.S. domestic manufacturers voiced lukewarm support for trade action, but unanimous concern about the potential scope of the investigation on Section 232 tariffs on imports of critical minerals, in public comments to the Bureau of Industry and Security.
The importers challenging the tariffs imposed by President Donald Trump under the International Emergency Economic Powers Act requested that the U.S. Court of Appeals for the Federal Circuit reject the government's bid for an emergency stay, telling the appellate court that the importers will be irreparably harmed by the stay while the president "is not harmed by the denial of authority he does not legally possess" (V.O.S. Selections v. Donald J. Trump, Fed. Cir. # 25-1812).