Former U.S. trade representative Michael Froman said the standards set by the World Trade Organization have been under stress for 15 years, and that its principles of global non-discrimination, bound tariff levels and restrictions on what can count as a bilateral or regional trade deal are dead for good.
Sen. Lindsey Graham, R-S.C., the leading Republican for a secondary tariffs bill supported by 85 senators, said that he talked to President Donald Trump on Sept. 11 about "moving forward" with secondary tariffs on countries that buy Russian oil and gas. He said he was encouraging him to look upon the Russia sanctions bill as something that would help him, "basically, giving him the authority to do what he's doing, which would help him in court."
Rep. Henry Cuellar, D-Texas, said he has met with customs brokers each of the last three days, and their main ask is no more executive orders changing tariffs that are released on a Friday afternoon or night and take effect on Monday.
Sen. Edward Markey, D-Mass., Minority Leader Chuck Schumer, D-N.Y., and eight other Democrats introduced a bill to require that small businesses receive refunds of the reciprocal tariffs within 90 days.
The EU wasn't willing to gamble on a trade war, European Commission President Ursula von der Leyen said in her annual "State of the EU" speech.
Two Republican senators took to the Senate floor this week to reiterate their support for increasing sanctions on Russia to pressure it to end its war against Ukraine.
President Donald Trump posted on social media that he is "pleased to announce" that trade negotiations addressing trade barriers between India and the U.S. are continuing. He added: "I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!"
The National Taxpayers Union, an anti-tax group, is arguing that House Republicans should not, for the third time, change the rules of the House to block a vote on the underlying emergencies that allowed the president to impose tariffs under the International Emergency Economic Powers Act.
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 Supreme Court on Sept. 9 agreed to hear two cases on the legality of tariffs imposed under the International Emergency Economic Powers Act and to do so on an expedited basis. The court set a briefing schedule that would conclude by Oct. 30 and set argument for the first week of November (Donald J. Trump v. V.O.S. Selections, U.S. 25-250) (Learning Resources v. Donald J. Trump, U.S. 24-1287).