Treasury Secretary Scott Bessent offered some clarity on the promised April 2 tariffs but, when pressed, didn't elaborate on vital details. He said that reciprocal tariffs would take the form of a number that the Trump administration "believe[s] represents their tariffs," but said he wasn't sure if tariffs would layer on top of Section 232 tariffs.
Among more than 700 submissions to the Office of the U.S. Trade Representative -- as the administration seeks to quantify the cost to American exporters and producers of trade barriers and unfair subsidies -- were just over a dozen from trade groups representing foreign companies, American chambers of commerce specific to foreign markets, and foreign governments.
A State Department notice declaring that all agency efforts to control international trade now constitute a "foreign affairs function" of the U.S. under the Administrative Procedure Act will ultimately be subject to the discretion of the courts, trade lawyers told us.
Commerce Secretary Howard Lutnick asked a top executive at Norsk Hydro a few weeks ago when the company would open a primary aluminum smelter.
Nicholas Lamp, academic director of international law programs at Queens University in Kingston, Ontario, told an audience of lawyers at Georgetown Law School that he questioned the premise of the panel he was speaking on -- that Canada and Mexico's approaches to trade with China would influence the future of USMCA.
The EU and Canada announced retaliatory tariffs against the U.S. this week, targeting billions of dollars' worth of American exports in response to what they said were unjustified global 25% steel and aluminum duties imposed by the Trump administration. Other nations also criticized the U.S. tariffs as they mulled countermeasures of their own.
Given that more than half of imports from Canada and Mexico don't claim USMCA preferences, trade lawyers and customs experts are expecting a sharp and rapid increase in entries that claim the preference.
Vehicles that meet the USMCA rules of origin will be able to enter the U.S. duty-free again, for one month, two White House spokespeople said March 5.
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.
Sen. Bill Cassidy, R-La., introduced the Prioritizing Offensive Agricultural Disputes and Enforcement Act, with the aim of stopping what he called unfair subsidies in India and China for their domestic rice farmers. He was joined on the bill by Sens. Cindy Hyde-Smith, R-Miss., John Boozman, R-Ark., Joni Ernst, R-Iowa, and Tommy Tuberville, R-Ala.