Under aggressive questioning from Rep. Ayanna Pressley, D-Mass., Treasury Secretary Scott Bessent said that exempting tariffs on car seats, cribs, high chairs and other essential baby items "is under consideration."
Vice President JD Vance, at a Q&A with Wolfgang Ischinger, a former German ambassador to the U.S., said it should be "very, very easy" to talk with officials at the EU about the bloc lowering its regulatory barriers to trade and its approach to U.S. tech giants.
President Donald Trump, responding to a reporter's quote from Treasury Secretary Scott Bessent that the administration is considering tariff exemptions for car seats from China [see Ref:2505060052]), said he doesn't know if he wants to do that.
Treasury Secretary Scott Bessent, after an evening announcement that he would travel to Switzerland to have trade talks with China on May 10 and 11, said that at current levels of tariffs, there's a trade embargo between the two countries.
In more than two hours of House appropriators' questions for Homeland Security Secretary Kristi Noem, trade was barely touched on.
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President Donald Trump, ahead of a meeting with Canadian Prime Minister Mark Carney, denied that his tariff actions against Canada and Mexico have killed USMCA, but also cast doubt on its future. He said USMCA "was a transitional deal" to move away from NAFTA, and said "we'll see what happens" with the renegotiation. He said it could be adjusted, or terminated.
Treasury Secretary Scott Bessent, in a talk moderated by Mike Milken, a former trader pardoned by President Donald Trump for long-ago securities fraud, said that trade, tax cuts and deregulation are "interlocking parts of an engine designed to drive long-term investment in the American economy."
Four Democratic senators brought small business owners to Congress for a press conference May 5 to condemn harm from President Donald Trump's tariffs and to announce legislation to create a tariff exemption for small businesses.
President Donald Trump, in a social media post, complained that other countries are offering "all sorts of incentives to draw our filmmakers and studios away from the United States," and that Hollywood and other U.S. regions "are being devastated." He said this is national security threat. "It is, in addition to everything else, messaging and propaganda! Therefore, I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands. WE WANT MOVIES MADE IN AMERICA, AGAIN!"