The value of the steel in refrigerator-freezers; dryers; washing machines; dishwashers; chest and upright freezers; cooking stoves; ranges and ovens; food waste disposals; and welded wire rack will be taxed at 50%, starting on June 23, the Bureau of Industry and Security said in a notice that will be published in the Federal Register June 16.
Senators from both parties asked Treasury Secretary Scott Bessent to respond to a Wall Street Journal editorial headlined "Trump Has No China Trade Strategy." Sen. Todd Young, R-Ind., when he had a chance to ask Bessent questions, quoted from it that Trump "has used tariffs as an economic scatter-gun against friends as well as foes."
The Bureau of Industry and Security is adding several new subheadings, largely covering household appliances, to the list of derivatives subject to 50% Section 232 tariffs on steel, it said in a notice. The additions, which take effect 12:01 a.m. ET June 23, including subheadings 8418.10.00; 8418.30.00; 8418.40.00; 8422.11.00; 8450.11.00; 8450.20.00; 8451.21.00; 8451.29.00; 8509.80.20; 8516.60.40; and 9403.99.9020.
A Polish official expressed optimism that the U.S. and European countries could hash out a trade deal soon, even as the 90-day timeline for the pause of reciprocal tariffs ends in less than a month.
Rep. Vern Buchanan, R-Fla., and Rep. Mike Thompson, D-Calif., introduced a bill that would suspend tariffs on imported bicycle components for U.S. assembly operations.
The U.S. and China reached an agreement for Beijing to rein in export curbs on critical minerals, and for the U.S. to "provide to China what was agreed to," President Donald Trump said June 11, offering few details about the substance of the deal.
The U.S. Court of Appeals for the Federal Circuit's stay of the Court of International Trade decision vacating all International Emergency Economic Powers Act tariff action likely doesn't signal a win for either side on the merits of the issue, various attorneys told us. In addition, the court's move to set a July 31 oral argument date and have all active judges hear the case indicates a decision will likely be issued in August, the attorneys said.
Treasury Secretary Scott Bessent said that if 18 major trading partners negotiate in good faith, "it is highly likely ... we will roll the date forward to continue in good faith negotiations." He was referring to the July 9 deadline when country-specific reciprocal tariffs above 10% are due to return.
Rep. Elise Stefanik, R-N.Y., joined by the chairman and members of the House Select Committee on China, reintroduced a bill last week to hike tariffs on Chinese drones and use the funds to help police departments, utilities and farmers replace Chinese drones with domestic or ally-built aircraft.
The last time President Donald Trump attended a Group of 7 meeting in Canada, he insulted Canada's prime minister on social media as he flew home -- then, as now, the relationship with allies was strained due to U.S. tariffs (see 1806110028). It also was the only time a member refused to sign the leaders' communiqué.