The Trump administration announced on Friday that tariffs the U.S. is imposing on China will be ratcheted up five percentage points, raising the 25 percent tariffs on $250 billion worth of Chinese goods to 30 percent and the 10 percent tariffs set to go into effect on Sept. 1 and Dec. 15 to 15 percent.
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U.S. puts off a decision on auto tariffs; Japan to lower its tariffs on beef and pork to TPP levels.
Sat, 10:24 AM
From the latest issue of Inside U.S. Trade.
Fri, 1:31 PM
“Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States.”
Fri, 12:23 PM
“Our great American companies are hereby ordered to immediately start looking for an alternative to China.”
Fri, 11:56 AM
President Trump is due to meet with his Japanese counterpart this weekend in Biarritz, France.
Fri, 10:24 AM
Japanese Economy Minister Toshimitsu Motegi on Friday said Washington and Tokyo agreed upon sectors to be included in a potential bilateral trade deal and can advance to working-level details.
U.S. exporters and business groups on Friday decried China’s announcement that it will impose tariffs on $75 billion worth of U.S. goods starting next month.
The Chinese government has announced plans to impose tariffs on $75 billion worth of U.S. goods, including retaliatory tariffs on cars, according to Chinese state-run media.
As President Trump gets set to jet to France this week for the G7 summit, senior administration officials say trade will be the first and foremost policy issue on his agenda in bilateral meetings with the United Kingdom, Germany, Canada, France, Japan and India.
China will soon release a list of foreign companies that will be subject to tighter trade restrictions, a spokesman from China’s Ministry of Commerce said on Thursday.
NAFTA
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Senate Finance Committee Chairman Chuck Grassley (R-IA) does not believe an “early harvest” deal between the U.S. and Japan would need to be approved by Congress and contends the U.S. should not be concerned with the integrity of the Good Friday Agreement when it considers the prospects of a trade deal with the United Kingdom, he said Tuesday.
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U.S. Trade Representative Robert Lighthizer has told House lawmakers he is committed to examining the ins and outs of U.S. de minimis policy, a concern for many due in part to a provision in the U.S.-Mexico-Canada Agreement.
China
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China will soon release a list of foreign companies that will be subject to tighter trade restrictions, a spokesman from China’s Ministry of Commerce said on Thursday.
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President Trump on Tuesday said he was not concerned with the short-term effects of tariffs the U.S. and China have imposed on each other while also suggesting that he may help the U.S. tech giant Apple, whose products will be hit by the next wave of tariffs.
World Trade Organization
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As President Trump gets set to jet to France this week for the G7 summit, senior administration officials say trade will be the first and foremost policy issue on his agenda in bilateral meetings with the United Kingdom, Germany, Canada, France, Japan and India.
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The U.S. on Thursday objected to the adoption of a World Trade Organization Appellate Body report in a countervailing duty dispute with China, arguing at a Dispute Settlement Body meeting that the decision reflects a host of concerns the U.S. has raised over the body’s functioning.
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