The EU announced Aug. 28 that it had proposed a return to duty-free treatment for American lobster exports, and added processed lobster to that category, and to eliminate tariffs on American industrial goods and to provide preferential access for other U.S. seafood and what the EU called "non-sensitive agricultural goods."
CBP is ready to process the low-value packages that used to qualify for de minimis, officials said Aug. 28, hours before the change comes into effect.
A law professor from Georgetown University and a former Biden administration official have differing outlooks on the future of the lawsuits on tariffs imposed under the International Emergency Economic Powers Act filed in courts. Professor Marty Lederman said he would be "very surprised" if the Federal Circuit or Supreme Court ruled against the government on non-delegation or major questions doctrine grounds. Lawyer and former federal official Peter Harrell, however, said that the courts may welcome an opportunity to curb executive power.
South Korea is likely waiting for a more definitive trade agreement with the U.S., especially as the two countries seem to reflect differing opinions on what deals have been affirmed, according to experts' observations of the Aug. 25 meeting at the White House between President Donald Trump and South Korean President Lee Jae Myung (see 2508250065).
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Less than a week after European politicians said that the trade framework was establishing certainty for European businesses, President Donald Trump lobbed a bomb on social media, threatening "substantial additional tariffs" and export restrictions on chips.
Jewelers of America's and the International Diamond Manufacturers Association's leadership met with Peter Navarro last week to argue that diamonds shouldn't be subject to reciprocal import duties.
The U.S. Geological Survey is proposing to update its critical minerals list to include another six minerals.
Vice President JD Vance said that the U.S. is imposing secondary tariffs on India for buying Russian oil, and not China, because China already has high tariffs.
President Donald Trump, speaking after meeting Aug. 25 with South Korea's president, said he believes the two sides have cemented the trade deal he first announced last month. "I think we have a deal done. They had some problems with it, but we stuck to our guns," Trump said. "They're going to make the deal that they agreed to make." Trump added that it's a "very big trade deal" and the "biggest deal" South Korea has "ever made by far."