President Donald Trump expressed confidence that the U.S. and Canada will "work something out" on trade, just before he met June 16 with Canadian Prime Minister Mark Carney. The two were meeting ahead of the beginning of a two-day Group of 7 summit in Canada's Alberta province.
Bloomberg reported that an Indonesian delegation's trip to Washington that had been scheduled for next week was canceled because its proposal to address its trade surplus was considered sufficient.
The executive director of the U.S. office of the top association for Mexico's businesses echoed the upbeat line of his government, that the USMCA carveouts in the global trade war give Mexico and Canada a leg up.
President Donald Trump, at a June 12 event rolling back a California standard that by 2035, all vehicles sold would be zero-emission, pointed to his original Section 301 tariff on Chinese electric vehicles as the reason you don't see those cars in the U.S.
Senators from both parties asked Treasury Secretary Scott Bessent to respond to a Wall Street Journal editorial headlined "Trump Has No China Trade Strategy." Sen. Todd Young, R-Ind., when he had a chance to ask Bessent questions, quoted from it that Trump "has used tariffs as an economic scatter-gun against friends as well as foes."
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.