At an appearance at the Washington International Trade Association, Sen. Maria Cantwell, D-Wash., criticized the Trump administration for instituting an "on-again, off-again tariff structure, that, in some instances, are higher than even the Smoot-Hawley levels."
Rep. Julia Letlow, R-La., recently introduced a bill that would use tariff revenues on agricultural products -- Chapters 1 through 24 of the Harmonized Tariff Schedule -- to make farmers whole for lost export revenue and higher costs on their own business purchases.
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.
Senate Finance Committee Chairman Mike Crapo, R-Idaho, wanted to include trade items in the bill that extends and expands Trump income tax cuts, according to a lobbyist on trade matters.
The National Customs Brokers & Forwarders Association of America and dozens of state and national-level trade groups representing shippers have signed a letter warning the heads of multiple federal agencies of potential supply chain disruptions that could result should tariff changes proceed as planned.
Canada is preparing new and revised tariffs, along with a tariff quota, to address what it said is the Trump administration’s “unfair trade” measures in the steel and aluminum sectors. The new tariffs and other measures will be in place as Canada negotiates a new “economic and security partnership” with the U.S., the country’s Department of Finance announced June 19.
The Supreme Court on June 20 denied a motion from importers Learning Resources and Hand2Mind to expedite consideration of their petition to have the high court take up their lawsuit against tariffs imposed under the International Emergency Economic Powers Act (Learning Resources v. Trump, Sup. Ct. # 24-1287).
Producing scrubs in Haiti allows American firms to avoid 29% tariffs on pants, 16% tariffs on tops, and still import the fabric from Asia. But the trade preferences for Haiti known as HOPE/HELP expire in three months and 11 days, and Republicans who control the voting calendar are not reassuring the companies that it will be renewed on time.
The Senate version of the tax bill moving through Congress cut out two trade-related provisions that passed the House -- one, which would end de minimis for all imports in July 2027, and the other, curtailing drawback for tobacco products.
Pharmaceutical tariffs, which President Donald Trump said are coming soon, loomed over a seminar on fragile supply chains for medicines, but both the hosts at the think tank and the guests agreed, they will neither reduce dependency on imports nor solve shortages.