Reps. Gregory Meeks, D-N.Y., Josh Gottheimer, D-N.J., Jeff Hurd, R-Colo., and Don Bacon, R-Neb., have introduced a bill that would require congressional approval for certain future tariff actions, matching legislation introduced by senators last week (see 2504030018).
The Trump administration's decision to pause most reciprocal tariffs on April 9 was a "well-planned move" and not a reaction to the bond market, National Economic Council director Kevin Hassett said in an interview with CNBC April 10.
President Donald Trump said that the 10% universal tariff rate that he imposed on April 2 is not necessarily permanent, depending on what other countries are willing to give the U.S. in return for removal.
Two members of the Blackfeet Nation tribe filed a lawsuit in the U.S. District Court for the District of Montana against various tariff actions by President Donald Trump, arguing that Trump's use of the International Emergency Economic Powers Act is an "unconstitutional exercise of congressional authority." The individuals, Montana state Sen. Susan Webber and rancher Jonathan St. Goddard, also claimed that Trump's tariff orders unconstitutionally deprived them of procedural due process and are "void for vagueness."
The most unwavering defenders of President Donald Trump's "reciprocal tariffs" policy -- including House Ways and Means Committee Chairman Jason Smith, R-Mo. -- were a bit undercut during a four-hour hearing on the president's trade agenda, because Trump reacted to Treasury market volatility and backed down.
China’s State Council this week released a white paper on economic and trade relations with the U.S., criticizing the U.S. government’s imposition of tariffs and export controls and saying that the two sides should strive toward “mutually beneficial cooperation.” The white paper seeks to “clarify the facts about China-US economic and trade relations and illustrate China's policy stance on relevant issues,” it says, according to an unofficial translation.
China raised the tariff rate on U.S.-origin goods, from 34% to 84%, in response to President Donald Trump's April 8 executive order raising reciprocal rates by 50% (see 2504080079), the Office of the Tariff Commission of the State Council announced April 9. The new tariffs will take effect at 12:01 a.m. April 10, the commission said, according to an unofficial translation.
President Donald Trump said April 9 that he’s hiking tariffs on Chinese imports to 125% "effective immediately."
Members of the Senate Agriculture Committee on April 8 pressed Stephen Vaden, nominee for USDA deputy secretary, on how President Donald Trump's slew of tariff action will impact USDA and agriculture issues.
President Donald Trump’s April 8 executive order that raised the reciprocal tariff on China to 84% also increased tariffs applicable to postal shipments.