President-elect Donald Trump said the U.S. is "subsidizing Canada to the tune [of] over $100 billion a year. We’re subsidizing Mexico for almost $300 billion. We shouldn’t be -- why are we subsidizing these countries? If we’re going to subsidize them, let them become a state."
Four senators, a pair from both parties, introduced a bill that would authorize the U.S. trade representative, with consultation with Congress about objectives, to negotiate specialized trade agreements focused on critical minerals and rare earth elements. Those trade agreements would also need to get a vote of approval from Congress before they could enter into force.
A bipartisan duo have introduced a bill that would require the administration to establish a "Denied Parties List" for exporters wishing to send packages under the de minimis exclusion, based on at least three past shipments of counterfeits, illegal drugs, or goods made with forced labor.
A final rule on what kinds of purchases of information and communications technology and services (ICTS) from China or other "foreign adversaries" may be reviewed by the Bureau of Information and Security, and perhaps, banned, was released Dec. 5.
If incoming President Donald Trump imposes 25% tariffs on all Mexican and Canadian imports, it would be deeply disruptive to business in Texas, Arizona, Michigan and southeastern states with major auto manufacturing.
President-elect Donald Trump posted on Truth Social that he will block the purchase of U.S. Steel by Nippon Steel, though it's possible President Joe Biden will take care of that before Trump is inaugurated.
The Steel Manufacturers Association is asking President-elect Donald Trump to curtail current Section 232 quota restrictions and to end Section 232 exemptions for some Mexican products, to expand Section 232 to more downstream products, and greatly narrow exclusions to the tariffs.
President-elect Donald Trump tweeted a threat on Nov. 30 that he had earlier made on the campaign trail -- that he will impose 100% tariffs on exports from countries who try to create a workaround to trading in dollars, the world's reserve currency.
If President Trump were to impose 25% tariffs on all Mexican and Canadian imports, because he believes those countries are not doing enough to stop migration and drug trafficking, no industry would be hurt more than the auto industry.
The former chief of staff to then-U.S. Trade Representative Robert Lighthizer has been chosen for USTR in Donald Trump's second administration.