The U.S. is likely to impose more trade controls to push Chinese chips and other components out of American technologies, which could raise costs and make managing supply chains even more challenging, technology policy analysts said this week.
President Donald Trump, before a dinner with tech company CEOs Sept. 4, took a few questions from reporters, including one on planned tariffs on semiconductors and, possibly, goods made with chips.
South Korea is likely waiting for a more definitive trade agreement with the U.S., especially as the two countries seem to reflect differing opinions on what deals have been affirmed, according to experts' observations of the Aug. 25 meeting at the White House between President Donald Trump and South Korean President Lee Jae Myung (see 2508250065).
Less than a week after European politicians said that the trade framework was establishing certainty for European businesses, President Donald Trump lobbed a bomb on social media, threatening "substantial additional tariffs" and export restrictions on chips.
The U.S. will lower tariffs on EU goods covered by the automotive Section 232 action from 25% plus the most favored nation rate to a flat 15% as soon as the European Parliament introduces legislation to eliminate its industrial tariffs. A joint statement issued by the two sides Aug. 21 said the "tariff reductions are expected to be effective from the first day of the same month in which the European Union’s legislative proposal is introduced."
EU Trade Minister Maros Sefcovic said that the EU "will need to translate key elements of the joint statement into legislative proposals," and that politicians have a "firm intention" to "present these legislative proposals and launch this process still this month."
The International Trade Commission published notices in the Aug. 19 Federal Register on the following antidumping and countervailing duty (AD/CVD) injury, Section 337 patent or other trade proceedings (any notices that warrant a more detailed summary will be in another ITT article):
Commerce Secretary Howard Lutnick said that details in writing on the South Korean and Japanese trade deals will come in "kind of weeks."
In the Aug. 13 Customs Bulletin (Vol. 59, No. 33), CBP published proposals to modify and revoke ruling letters concerning the tariff classification of metal and rubber automotive air springs and suspension bushings, as well as modify ruling letters and revoke treatment relating to the documentary requirements of subheading 9801.00.20.
Tariffs on steel, chips and semiconductors will come into effect by next week or the week after, President Donald Trump said on Aug. 15.