President Donald Trump, on social media, said the U.S. is "hereby terminating ALL discussions on Trade with Canada, effective immediately" because its digital service tax is not being delayed. The first payments are due on July 1.
As companies seek to accommodate changes in U.S. tariffs, they should seek to understand the terms of their intercompany agreements and transfer pricing policies to avoid potential violations, according to an energy and infrastructure lawyer with Baker McKenzie.
Rep. Ayanna Pressley, D-Mass., and 25 other House Democrats asked Treasury Secretary Scott Bessent to tell them by July 10 whether the administration is going to carve out baby products from tariffs on Chinese goods. In a letter publicized June 26, the members noted that Bessent said exempting baby products was under consideration on May 7, and that the president also said he would "take a look at it" in response to questions that day.
Sen. Jeanne Shaheen, D-N.H., speaking at the NATO Public Forum in the Netherlands, said she believes Congress is ready to approve a bill that would impose a wide range of sanctions on Russia and its supporters if Moscow refuses to reach a peace deal with Ukraine, including a 500% tariff on imported goods from countries that buy Russian oil, gas, uranium and other products (see 2504020003).
The Commerce Department’s International Trade Administration will begin accepting requests July 1 to include additional auto parts under 25% Section 232 tariffs on imports, it said in a news release June 24. The 14-day submission window will be one of four per year when Commerce accepts inclusion requests, in January, April, July and October, it said.
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.
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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.