Mara Lee

2 weeks ago | internationaltradetoday.com | Mara Lee

Sen. James Lankford, R-Okla., while not directly opposing the actions, did question the logic of fixating on bilateral trade deficits with developing countries. In asking U.S. Trade Representative Jamieson Greer at a committee hearing April 8 how long it might take to reach deals with trading partners, and, presumably, roll back tariffs, he told him about an Oklahoma company that spent millions to move production from China to Vietnam.

2 weeks ago | internationaltradetoday.com | Mara Lee

The resolution, announced on April 8, is expected to get a vote in the Senate after Congress returns from a Passover/Easter recess. If the trade deficit emergency is terminated, so, too, would tariffs of 20% on the EU, 46% on Vietnam, 49% on Cambodia, and so on. For countries with trade surpluses in goods with the U.S., the president applied a 10% tariff via the International Emergency Economic Powers Act, or IEEPA.

2 weeks ago | internationaltradetoday.com | Mara Lee

Trump posted that on social media, where he posted repeatedly throughout the weekend and on Monday about tariffs. A White House official confirmed that the 50% adds to the 34% reciprocal tariff, which was on top of the 20% fentanyl smuggling tariffs. All these tariffs are in addition to Section 301 tariffs and MFN tariffs, but not Section 232 tariffs. He also wrote, "Countries from all over the World are talking to us. Tough but fair parameters are being set.

3 weeks ago | internationaltradetoday.com | Mara Lee

Cruz, who spoke about the tariffs at length on his regular podcast, said April 4, "I want this to succeed, but my definition of 'succeed' may be different from the White House's."He said if, within 30, 60 or 90 days, foreign countries slash their tariffs on American goods, and Trump slashes U.S. tariffs to match the lower rates, "I will celebrate.""There's another way this could play out," he warned.

3 weeks ago | internationaltradetoday.com | Mara Lee

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