While the Venezuela military action doesn't affect trade substantially, a panel of experts said the fallout with regard to President Donald Trump's comments about Greenland afterward could "blow up the U.S.-EU deal."
House Ways and Means Committee member Rep. Beth Van Duyne, R-Texas, introduced a bill last week that would impose 10% tariffs on goods imported from countries that have trade surpluses with the U.S. and 15% tariffs on goods from countries that have trade deficits with the U.S.
A Danish member of the European Parliament from an eco-socialist party called the Red-Green Alliance is pushing for the parliament to halt consideration of a legislative package that would drop tariffs on American industrial goods and give U.S. agriculture more access to the EU market.
Commerce Secretary Howard Lutnick, on the All-In podcast episode hosted by a Canadian-American venture capital billionaire, said India has not gotten a trade deal because the U.S. no longer wanted to offer the terms they'd agreed to when India's prime minister didn't call President Donald Trump within a three-week window.
Rep. Max Miller, R-Ohio, has introduced a bill that would reduce or waive tariffs on some imports for manufacturers who qualify for new general import licenses.
Sen. Lindsey Graham, R-S.C., issued a statement Jan. 7 saying that he hopes there will be a vote on the Russia sanctions bill (see 2512190029 and 2601050050) "as early as next week."
The African Growth and Opportunity Act and the Haiti Economic Lift Program Extension Act (Haiti HELP) are scheduled to get floor votes next week through the suspension of the rules, which requires a two-thirds majority for passage. Both trade preferences expired Oct. 1.
A large majority of Footwear Distributors and Retailers of America members said their costs of imported shoes will climb in 2026, at a time when many consumers are pulling back on purchases.
Former House Speaker Paul Ryan, a Republican and self-proclaimed free trader, said the president should lose in the Supreme Court on his use of the International Emergency Economic Powers Act to impose tariffs.
President Donald Trump, in a lengthy pep-talk to House Republicans about how to win the midterms, said that his threats of tariffs caused drug companies to lower prices in the U.S., as European countries agreed to pay more for the same medicines.