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Leavitt: Administration ‘setting the stage’ for trade deal with China

3 days ago | insidetrade.com | Brett Fortnam

Citing ongoing trade negotiations with other countries, White House Press Secretary Karoline Leavitt said the Trump administration is preparing for talks with China. “We’re doing very well with respect to a potential trade deal with China,” she told reporters at a daily press briefing. “As I mentioned, there have now been 18 proposals and more than 100 countries around the world who are wanting to make a deal with the United States of America and the president and the administration...
Industry chief hopeful administration carves out generics from pharma tariffs

4 days ago | insidetrade.com | Brett Fortnam

Insider Interview Tariffs that President Trump has repeatedly promised to levy on the pharmaceutical sector should exclude generic drugs, Association for Accessible Medicines President and CEO John Murphy tells Inside U.S. Trade , arguing that generic medicines are uniquely vulnerable to tariffs because of low profit margins and static government reimbursement rates.
Foreign officials flock to Washington for trade talks as IMF, World Bank hold spring meetings

4 days ago | insidetrade.com | Brett Fortnam

This Week In Trade This Week In Trade South Korean trade officials will discuss pending U.S. tariffs with counterparts in Washington, DC, a city that will be teeming with high-ranking economic officials in town for the spring World Bank and International Monetary Fund meetings. An underlying -- if not overt -- theme of the spring meetings will be the wrench the U.S. has thrown into the world economic system, especially the rollout of a new tariff regime on April 2.
U.S.-China tariffs seen as unsustainable, but pain must be felt before talks can begin

1 week ago | insidetrade.com | Brett Fortnam

News analysis President Trump has repeatedly said he is willing to make a trade deal with Beijing -- if China calls first -- that could ease trade tensions and lower steep tariffs on both, but the two sides are not close to commencing talks and likely will have to feel some economic pain before agreeing to negotiate, according to analysts. Trump on April 2 announced a 34 percent tariff on Chinese goods as part of a new tariff regime, triggering a back-and-forth...
Arizona senator urges Commerce not to end tomato deal with Mexico

1 week ago | insidetrade.com | Margaret Spiegelman

Sen.
USTR announces tonnage-based port fees on Chinese ships

1 week ago | insidetrade.com | Margaret Spiegelman

The Trump administration is poised to impose port fees on Chinese-operated and -built ships based on their net tonnage, with exceptions for U.S.-owned vessels, with the Office of the U.S. Trade Representative on Thursday unveiling its determinations on responsive actions stemming from a yearlong investigation into Chinese practices in the shipbuilding sector.
Commerce moves to end tomato deal with Mexico, reimpose duties

1 week ago | insidetrade.com | Margaret Spiegelman

The Commerce Department said it intends to terminate a 2019 agreement with Mexico suspending antidumping duties on tomatoes, setting a 90-day clock until duties go into effect unless Mexico and the U.S. reach a new understanding. In an April 14 statement citing a deluge of support by U.S. growers for ending the agreement, Commerce stressed what it described as the Trump administration’s focus on enforcing U.S. trade law while not providing details on how it came to its decision. “The...
Conservative group sues Trump over IEEPA tariffs, trade deficit emergency

1 week ago | insidetrade.com | Brett Fortnam

The Trump administration is facing another legal challenge over its imposition of tariffs under the International Economic Emergency Powers Act, with the conservative Liberty Justice Center charging that the national emergency underpinning the new tariff regime is merely a figment of the president’s imagination.
UNCTAD urges U.S. to exempt poorest countries from ‘reciprocal’ tariffs

1 week ago | insidetrade.com | Margaret Spiegelman

The United Nations institution dedicated to trade and development is calling on the U.S. to exclude small, developing countries from President Trump’s “reciprocal” tariffs, concluding in a new report that raising tariffs on those countries would disproportionately harm their economies while doing little to advance the administration's stated goal of lowering the trade deficit.
Section 232 investigations looming on chips, pharma as trade talks continue

1 week ago | insidetrade.com | Brett Fortnam

This Week In Trade This Week In Trade Trump administration officials spent the weekend insisting that semiconductors and pharmaceuticals were exempted from the new U.S. tariff regime because they will face national security tariffs, which could come "in the next month or two," according to the Commerce secretary.