The Court of International Trade on Dec. 15 denied a motion for an injunction stopping liquidation of entries from a group of importers that filed challenges to International Emergency Economic Powers Act tariffs. Judges Gary Katzmann, Timothy Reif and Jane Restani held that an injunction is unnecessary because the trade court has the authority to reliquidate finally liquidated entries from the importers that filed suit under the court's 28 U.S.C. 1581(i) jurisdiction if the Supreme Court invalidates the tariffs. The judges also noted the government's commitment that it won't fight against CIT's ability to order refunds, finding the U.S. is barred from changing its position in the future.
Most tariff cuts under the recent U.S.-South Korea trade deal will take retroactive effect Nov. 14, with tariff cuts for autos and auto parts coming earlier on Nov. 1, as expected, said the U.S. Trade Representative in a notice released Dec. 3.
President Donald Trump issued an executive order Nov. 20 exempting 238 tariff schedule subheadings covering agricultural products from the 40% additional International Emergency Economic Powers Act tariff on Brazil. The new exemptions take retroactive effect Nov. 13 at 12:01 a.m ET.
President Donald Trump issued an executive order late Nov. 14 exempting many agricultural products from all reciprocal tariffs. The executive order said the new tariff exemptions took effect at 12:01 a.m. Nov. 13.
The U.S. will lower its reciprocal tariffs on Switzerland to “a maximum of 15%” under a tariff deal announced by the Swiss government Nov. 14. As part of the deal, Switzerland will reduce its tariffs on “a range of U.S. products,” including industrial and agricultural products, and its companies “are planning to make direct investments in the USA amounting to” $200 billion by the end of 2028.
President Donald Trump, after talking with Chinese President Xi Jinping in Korea, told reporters that he will be lowering tariffs on Chinese goods by 10%, because China is going to crack down on fentanyl trafficking. A reporter on Air Force One asked about the fees that Chinese ships must pay when they arrive at U.S. ports, and U.S. Trade Representative Jamieson Greer said those fees will be postponed while the two sides negotiate over what the U.S. calls market-distorting subsidies in the shipbuilding sector. In the 100-minute meeting, China also said it would delay an export licensing scheme for rare earth materials.
President Donald Trump wrote on social media that because of the "serious misrepresentation of the facts" in an ad the government of Ontario ran during the World Series, using excerpts of a Ronald Reagan speech, "I am increasing the Tariff on Canada by 10% over and above what they are paying now. " It's not clear what this would apply to.
President Donald Trump, after a commercial aired in Ontario with audio from Ronald Reagan pointing out that tariffs harm the country that imposes them, declared on social media after 11 p.m. Oct. 23, "Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED."
Section 232 tariffs on heavy- and medium-duty trucks and their parts and on buses will take effect Nov. 1, under a proclamation issued by President Donald Trump. Tariffs will be set at 25% for classes III through VIII trucks and their parts, and 10% on buses.
The U.S. will soon impose a 100% tariff on China, “over and above any Tariff that they are currently paying,” along with new export controls on “any and all critical software,” President Donald Trump announced on Truth Social. Trump said the measures, which could take effect Nov. 1 or sooner, are in response to China’s recent announcement that it will impose new export license requirements on overseas exports if they contain certain levels of Chinese-origin material.