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.
France's President Emmanuel Macron, speaking at a conference in Davos, Switzerland, called the deal reached last summer to drop tariffs on U.S. exports to the EU while acceding to 15% tariffs on European exports a deal which "openly aim[s] to weaken and subordinate Europe," and added that unless the EU stands up, there will be "an endless accumulation of new tariffs that are fundamentally unacceptable, even more so when they are used as leverage against territorial sovereignty."
President Donald Trump, in a more than hourlong speech at the White House, said it'll be very sad if the Supreme Court rules against the use of tariffs under the International Emergency Economic Powers Act. "We're waiting for that case anxiously," he said. He argued that the IEEPA statute allows the government to require licenses for imports, and tariffs are "probably less severe." If the Supreme Court rules against him, "It's possible we're going to do the best we can in paying it back," he said, though he said it would be hard.
President Donald Trump, in a social media post, said he will impose 10% tariffs on Denmark, Norway, Sweden, France, Germany, the U.K. the Netherlands and Finland starting Feb. 1, rising to 25% on June 1. He said the tariff will remain "until such time as a Deal is reached for the Complete and Total purchase of Greenland. The United States has been trying to do this transaction for over 150 years. Many Presidents have tried, and for good reason, but Denmark has always refused. Now, because of The Golden Dome, and Modern Day Weapons Systems, both Offensive and Defensive, the need to ACQUIRE is especially important."
President Donald Trump, at an event in the Oval Office about rural health care, segued from talking about how he pressured the president of France to have his health system pay more for pharmaceuticals to talking about imposing tariffs on countries that are resisting his plans for Greenland.
If the Supreme Court eliminates the president's ability to impose tariffs under the International Emergency Economic Powers Act, it may not mean the return of the de minimis exemption, which President Donald Trump also ended via IEEPA, trade lawyers told us.
Steel industry executives told a bipartisan panel of House members that Canada and Mexico shouldn't be allowed an exemption from Section 232 tariffs, and a representative of Nucor, the largest U.S. steel manufacturer, asked the members to "vocally oppose any efforts to weaken these measures, whether through carve-outs for countries like Canada and Mexico or through gamesmanship like under-reporting the value of steel and steel products."
Despite a clamor from the trade community for guidance on how to calculate metal content value for Section 232 duty purposes, CBP seems hesitant to issue a customs ruling on the subject, according to trade attorney Mollie Sitkowski. The agency already has punted on the issue several times this fall, claiming that Section 232 tariffs are a Department of Commerce issue, she said.
Taiwanese auto parts and lumber derivatives subject to Section 232 actions will be subject to a 15% tariff, rather than the 25% rates applicable to most countries, the Commerce Department announced Jan. 15. The reciprocal tariff for Taiwan also will be cut, from 20% to 15%, inclusive of most-favored-nation duties.
Witnesses at a House Ways and Means Trade Subcommittee hearing about digital trade and international protections of intellectual property rights praised the Trump administration's work on maintaining a moratorium on customs duties on electronic transmissions, such as music downloads, streaming films and software.