The EU wasn't willing to gamble on a trade war, European Commission President Ursula von der Leyen said in her annual "State of the EU" speech.
Two Republican senators took to the Senate floor this week to reiterate their support for increasing sanctions on Russia to pressure it to end its war against Ukraine.
President Donald Trump posted on social media that he is "pleased to announce" that trade negotiations addressing trade barriers between India and the U.S. are continuing. He added: "I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!"
The National Taxpayers Union, an anti-tax group, is arguing that House Republicans should not, for the third time, change the rules of the House to block a vote on the underlying emergencies that allowed the president to impose tariffs under the International Emergency Economic Powers Act.
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.
The Supreme Court on Sept. 9 agreed to hear two cases on the legality of tariffs imposed under the International Emergency Economic Powers Act and to do so on an expedited basis. The court set a briefing schedule that would conclude by Oct. 30 and set argument for the first week of November (Donald J. Trump v. V.O.S. Selections, U.S. 25-250) (Learning Resources v. Donald J. Trump, U.S. 24-1287).
White House trade official Peter Navarro will need to be sidelined for a trade deal between the U.S. and India to emerge, according to Mark Linscott, a former assistant U.S. trade representative for South and Central Asia. Navarro's comments about India have inflamed the conflict, Linscott said, and have made trade negotiations more difficult.
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.