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Sen. Rounds: Deal close on Crapo-backed trade amendment vote

Editor's note: See here for the latest developments on Thursday. The Senate is nearing a deal that would bring to the floor a vote on an amendment that would extend two expired trade preferences programs, though the agreement hinges on the support of one senator whose staff is recommending he support the deal, Sen. Mike Rounds (R-SD) told reporters on Thursday. The Senate for several hours has been holding open a cloture vote on a substitute amendment offered by...

Sources: U.S., Brazil to announce limited trade deal next week

The U.S. and Brazil plan to announce a limited agreement on trade facilitation, good regulatory practices and anticorruption next week, according to sources familiar with the plans. Yana Dumaresq, assistant deputy minister for foreign trade and international affairs with Brazil’s Ministry of Economy, previewed the announcement earlier this month. The U.S. Chamber of Commerce on Oct. 19 will hold a high-level event that will include Brazilian President Jair Bolsonaro, U.S. Secretary of State Mike Pompeo, U.S. Trade Representative Robert Lighthizer,...

Sources: Trump set to announce steel, aluminum remedies on Thursday

Editor's note: After this story was published, the White House decided to hold a " listening session " with steel and aluminum company executives on Thursday, March 1, with no announcement of remedies. Less than two weeks after the Commerce Department made public its recommendations on remedies that could be imposed on steel and aluminum imports, President Trump on Thursday is expected to announce his decisions in both investigations under Section 232 of the 1962 Trade Expansion Act, sources...

Carney headed to Washington to discuss USMCA review with Trump

Canadian Prime Minister Mark Carney will travel to Washington, DC, next week to discuss the upcoming review of the U.S.-Mexico-Canada Agreement as well as other economic and security issues, his office announced on Friday. “Canada and the U.S. each launched consultations last month that will inform preparations for the first joint review of CUSMA,” the announcement states . “The Prime Minister’s working visit will focus on shared priorities in a new economic and security relationship between Canada and the U.S.”...

Trump: China declining to buy U.S. soybeans for ‘negotiating’ reasons

China has declined to purchase U.S. soybeans this year to bolster its negotiating position with the U.S., President Trump charged on Wednesday. The U.S. soybean industry has been raising alarms over China’s refusal to purchase U.S. imports in 2025, rising competition from South America as well as falling commodity prices and rising input costs. “The Soybean Farmers of our Country are being hurt because China is, for ‘negotiating’ reasons only, not buying.” Trump wrote in an Oct. 1 post to...

Trump says drug tariffs key to pricing deals with industry, trading partners

The Trump administration is using the threat of tariff increases and offers of temporary carveouts to negotiate with both pharmaceutical companies and U.S. trading partners to push the industry to raise prices abroad, lower them in the U.S. and reshore manufacturing, beginning with a just-announced deal between the White House and Pfizer. President Trump, administration officials and Pfizer executives unveiled the first public agreement in the White House’s drug-price push during a Sept. 30 Oval Office press conference . Trump...

Greer: USTR will be firing ‘on all pistons’ if government shuts down

The Office of the U.S. Trade Representative will remain nearly “fully functioning” during a looming government shutdown as it continues trade talks and pursues new deals with countries in Asia, USTR Jamieson Greer said on Tuesday. Government funding is set to expire Tuesday night. Shutdowns lead to the furloughs of thousands of government employees, though those deemed essential to an agency’s core function can be exempted and continue working throughout a shutdown without pay. USTR’s new government shutdown contingency plan...

Trump issues suite of national security duties on wood products

New national security duties on lumber, timber and derivative products are set to take effect on Oct. 14, with some set to rise by the beginning of next year for countries that don’t negotiate exceptions, the White House said late Monday. The duties include 10 percent tariffs on softwood timber and lumber; 25 percent tariffs on certain upholstered wooden products, set to rise to 30 percent on Jan. 1; and 25 percent tariffs on kitchen cabinets and vanities, which will...

BIS expands Entity List restrictions to companies owned by designees

The Commerce Department’s Bureau of Industry and Security on Tuesday will publish an interim final rule expanding Entity List and Military End User restrictions to cover companies that are at least 50 percent owned by listed entities, a move it says will close “a significant loophole.” “Under today’s rule, any entity that is at least 50 percent owned by one or more entities on the Entity List or the Military End-User (MEU) List will itself automatically be subject to Entity...

AGOA headed for expiry, but one beneficiary says U.S. will extend this year

The African Growth and Opportunity Act is headed toward expiration this week despite broad, bipartisan support for renewal in Congress – something one beneficiary country says should ensure reauthorization later in the year. Lawmakers on the House Ways & Means Committee and Senate Finance Committee told officials from Lesotho that they expect the U.S. to extend AGOA by the end of the year, the country’s trade minister said last week. The trade-preference program is set to lapse on Sept. 30...

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