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.
From corporate giants to small companies, in farming, manufacturing and retail, Americans said tariffs on Canada and Mexico were damaging their businesses and driving up costs for customers.
Going from zero tariffs on most Canadian and Mexican imports to 25% convulsed Capitol Hill and foreign capitals, with some Republicans diverging from the president's protectionist message and Democrats universally using the action to attack Trump as the reason prices will go up.
Beijing is studying ways to retaliate against an increase to 20% in U.S. tariffs to address fentanyl smuggling (see 2502270037), state-run news outlet Global Times reported March 3. China's countermeasures likely will include a combination of tariffs and non-tariff measures, the report said, with American agricultural and food products likely to be targeted.
President Donald Trump directed the Commerce Department to investigate whether the importation of lumber, wooden cabinets, wooden furniture and paper pose a threat to national security under Section 232.
Tariffs on some of the new aluminum and steel derivatives listed in an annex to President Donald Trump’s proclamation expanding the Section 232 tariffs will take effect March 12, according to a pair of notices released by the Commerce Department.
President Donald Trump, contrary to his commerce secretary's suggestion a day earlier that tariffs might be lower than 25% on Mexican and Canadian goods over border issues, told reporters March 3 that "tomorrow, tariffs, 25% on Canada, 25% on Mexico" will be imposed.
Tariffs on some of the new aluminum and steel derivatives listed in an annex to President Donald Trump’s proclamation expanding the Section 232 tariffs will take effect March 12, according to a pair of notices released by the Commerce Department.
President Donald Trump published an executive order shortly before 5 p.m. increasing emergency fentanyl tariffs on China from 10% to 20% because China hasn't taken adequate steps to cooperate on reducing drug smuggling.
De minimis treatment will remain in effect for goods from Canada and Mexico if a 25% tariff on goods from those countries takes effect as scheduled March 4. Executive orders issued March 2 postpone the removal of de minimis for Canada and Mexico, ordered alongside the 25% tariff, until the commerce secretary notifies the President that “adequate systems are in place” to process and collect tariffs on formerly de minimis shipments.