Nearly 40 minerals -- including gold bullion -- as well as sintered neodymium-iron-boron magnets and LEDs are no longer subject to reciprocal tariffs.
The Treasury Department will refund tariffs imposed through the International Emergency Economic Powers Act if the government loses its case at the Supreme Court, Treasury Secretary Scott Bessent said.
Commerce Secretary Howard Lutnick said on Bloomberg Television that he would be meeting with Switzerland's vice president later on Sept. 5, but he wasn't hopeful that the country would get a reprieve from 39% tariffs.
House Foreign Affairs Committee ranking member Rep. Gregory Meeks, D-N.Y., who has led the charge to terminate the underlying emergencies for the president's tariffs, said he doesn't know if Republicans will change course and allow a vote on his latest resolution, which would end the 40% tariffs on about 39% of Brazilian imports.
President Donald Trump threatened to impose new tariffs on goods from the EU after the bloc fined Google more than $3 billion this week for violating antitrust laws. "We cannot let this happen to brilliant and unprecedented American Ingenuity and, if it does, I will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies," Trump wrote Sept. 5 on Truth Social.
President Donald Trump, before a dinner with tech company CEOs Sept. 4, took a few questions from reporters, including one on planned tariffs on semiconductors and, possibly, goods made with chips.
Plaintiffs in the primary case on the legality of tariffs imposed under the International Emergency Economic Powers Act told the Supreme Court on Sept. 5 that they consent to the high court's review of the case. Responding to the government's petition for writ of certiorari filed after the U.S. Court of Appeals for the Federal Circuit ruled against many of the tariffs, the plaintiffs, consisting of five importers, said Supreme Court review is "essential," and the court's "final word is needed urgently" in light of the harm wrought by the tariffs (Donald J. Trump v. V.O.S. Selections, U.S. 25-250).
More products could fall under Section 232 tariffs on steel and aluminum as the federal government continues to take in requests for new products to be covered, according to trade attorney Michael Roll, who was speaking on a Sept. 3 webinar sponsored by A.N. Deringer.
Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.
Rep. Greg Steube, R-Fla., a member of the House Ways and Means Subcommittee on Trade, told International Trade Today that Subcommittee Chairman Adrian Smith, R-Neb., is looking to pass a renewal of the African Growth and Opportunity Act "now that we got the big, beautiful bill through," adding that Smith has wanted to do this "for a while."