The U.S. may consider imposing new import tariffs on older generation semiconductors from China, Commerce Secretary Gina Raimondo said.
President-elect Donald Trump is most likely to announce 25% tariffs on Canadian and Mexican goods the day he takes office, "then immediately suspend them -- with a deadline -- to allow for a negotiation," Bill Reinsch, a think tank leader who often opines on trade, wrote this week.
Peter Navarro, a former academic economist who served in the first Trump administration (see 1911060059 and 2002030056), will return as a trade adviser in the second administration, President-elect Donald Trump announced Dec. 4.
If incoming President Donald Trump imposes 25% tariffs on all Mexican and Canadian imports, it would be deeply disruptive to business in Texas, Arizona, Michigan and southeastern states with major auto manufacturing.
Facing Fentanyl, the Victims of Illicit Drugs and Families Against Fentanyl withdrew their Section 301 petition that asked the U.S. Trade Representative to double the 25% tariffs on Section 301 tariffs on lists 1 and 2 and asked the government to exclude Chinese goods from de minimis (see 2410180039).
President-elect Donald Trump posted on Truth Social that he will block the purchase of U.S. Steel by Nippon Steel, though it's possible President Joe Biden will take care of that before Trump is inaugurated.
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.
The Steel Manufacturers Association is asking President-elect Donald Trump to curtail current Section 232 quota restrictions and to end Section 232 exemptions for some Mexican products, to expand Section 232 to more downstream products, and greatly narrow exclusions to the tariffs.
President-elect Donald Trump tweeted a threat on Nov. 30 that he had earlier made on the campaign trail -- that he will impose 100% tariffs on exports from countries who try to create a workaround to trading in dollars, the world's reserve currency.
If President Trump were to impose 25% tariffs on all Mexican and Canadian imports, because he believes those countries are not doing enough to stop migration and drug trafficking, no industry would be hurt more than the auto industry.