The Court of International Trade on July 29 denied importers Johanna Foods' and Johanna Beverage Company's application for a temporary restraining order against President Donald Trump's threatened 50% tariff on Brazil. Judge Timothy Reif held that the "indefiniteness of the threatened action," which Trump said will take effect on Aug. 1, "dooms" the importers' "request for emergency relief in the form of a TRO." The judge said neither Trump nor any agency "has taken final action that is subject to judicial review by this Court."
President Donald Trump proclaimed that semi-finished copper products and copper derivative products will be subject to a 50% tariff starting at 12:01 a.m. EDT Aug. 1.
The ability to buy low-value goods from outside the U.S. and avoid duties will end Aug. 29. President Donald Trump signed an executive order effecting the change, but it hasn't been published yet.
A July benchmarking survey from the U.S. Fashion Industry Association found that executives from 25 leading U.S. fashion companies have been diversifying their sourcing as part of a wider strategy to hedge against higher tariffs and U.S. trade policy uncertainties.
Sen. Josh Hawley, R-Mo., one of the leading populist voices in the Senate, introduced a bill this week that would send checks of at least $600 to most adults who file tax returns, as a rebate for tariff costs.
President Donald Trump, in a gaggle with reporters on his plane as he returned from Scotland, said that he will impose tariffs to pressure Russia on Aug. 8, 10 days from now.
The following lawsuits were filed at the Court of International Trade during the weeks of July 14-20 and 21-27:
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.
Treasury Secretary Scott Bessent told reporters in Stockholm, Sweden, that the Chinese delegation spoke too early when they said the two sides agreed to another 90 days at current tariff levels, because the president is the one to decide. However, in a later interview with CNBC, Bessent said the meetings had been "highly satisfactory."
Although deals have not been announced with South Korea, Mexico or Canada -- some of the biggest trading partners for the U.S. -- U.S. Trade Representative Jamieson Greer told CNBC that, "we don't feel any pressure to have deals" ahead of Aug. 1, when tariffs are slated to go up on all countries that have goods trade deficits with the U.S."