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.
It remains unclear how the U.S. will apply a new 30% Aug. 1 tariff rate for Mexico that President Donald Trump announced over the weekend in one of his tariff letters.
President Donald Trump on July 11 appeared to leave open the possibility that USMCA goods will remain exempt from a higher 35% tariff on Canada that he announced the previous day.
Harris Sliwoski, an international law firm, published a blog post noting that the mention in the Vietnam trade deal framework of 40% tariffs for "transshipped" goods from Vietnam is designed to reduce China's role in supply chains.
Treasury Secretary Scott Bessent, on Bloomberg Television on June 30, didn't predict how many deals would be announced with the 18 largest trading partners of the U.S. before July 9. However, he said that countries "are coming in with offers" that long-time staff negotiators "can't believe," because they're so good.
Georgetown Law School Professor Jennifer Hillman, a former International Trade Commissioner and member of the World Trade Organization's appellate body, said she thinks there are grounds for a challenge to 25% tariffs on autos and auto parts, imposed on national security grounds under Section 232.
At an appearance at the Washington International Trade Association, Sen. Maria Cantwell, D-Wash., criticized the Trump administration for instituting an "on-again, off-again tariff structure, that, in some instances, are higher than even the Smoot-Hawley levels."
The U.S. has the power to force some manufacturing out of Canada and Mexico and have it locate in the U.S., so that those cars or other products avoid tariffs, a think-tank analyst said at a Washington International Trade Association event.
The executive director of the U.S. office of the top association for Mexico's businesses echoed the upbeat line of his government, that the USMCA carveouts in the global trade war give Mexico and Canada a leg up.
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.