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.
President-elect Donald Trump is most likely to announce 25% tariffs on Canadian and Mexican goods the day he takes office, "then immediately suspend them -- with a deadline -- to allow for a negotiation," Bill Reinsch, a think tank leader who often opines on trade, wrote this week.
Judges at the U.S. Court of Appeals for the Federal Circuit on Dec. 4 questioned importer Nature's Touch Frozen Foods (West) and the government regarding the tariff classification of frozen fruit mixtures. Judge Todd Hughes led the bulk of the questioning, pushing Nature's Touch on how to classify the goods if the court finds that the mixtures aren't food preparations, as claimed by the company, and how they should be classified instead under Harmonized Tariff Schedule heading 0811, which covers certain frozen fruit (Nature's Touch Frozen Foods (West) v. U.S., Fed. Cir. # 23-2093).
Peter Navarro, a former academic economist who served in the first Trump administration (see 1911060059 and 2002030056), will return as a trade adviser in the second administration, President-elect Donald Trump announced Dec. 4.
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.
Facing Fentanyl, the Victims of Illicit Drugs and Families Against Fentanyl withdrew their Section 301 petition that asked the U.S. Trade Representative to double the 25% tariffs on Section 301 tariffs on lists 1 and 2 and asked the government to exclude Chinese goods from de minimis (see 2410180039).
The House passed a bill that would create a task force in DOJ to increase prosecutions of tariff evasion, violations of the forced labor provision and ban on goods made in North Korea, trade-based money laundering and smuggling. The bill passed by a voice vote Dec. 3.
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.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
CBP has determined that Kingtom Aluminio's aluminum extrusions were produced or manufactured using forced labor, the agency said in a notice. The determination applies to any merchandise imported on or after Dec. 4, as well as any merchandise that has been imported into the U.S. but has not been released from CBP custody.