Nearly 40 minerals -- including gold bullion -- as well as sintered neodymium-iron-boron magnets and LEDs are no longer subject to reciprocal tariffs.
Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.
Japanese goods with most favored nation (MFN) duties of 15% or lower will be subject to a 15% reciprocal tariff, all inclusive, retroactive to 12:01 ET Aug. 7, the White House said in an executive order. The order applies the same 15% rule for goods subject to Section 232 tariffs on autos and auto parts upon publication of a Federal Register notice modifying the Harmonized Tariff Schedule. That notice will come within seven days of the executive order being published.
The U.S. apparently failed to implement promised tariff reductions on European Union goods in time for a Sept. 1 deadline outlined in an EU-U.S. joint statement issued Aug. 21.
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."
Treasury Secretary Scott Bessent said that wrapping up remaining trade deals by October is "aspirational" in part because India has been "recalcitrant" during trade negotiations.
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President Donald Trump, in a social media post, said he intends to substantially hike tariffs on Indian products due to their purchases of Russian oil.
European Commission President Ursula von der Leyen said "all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural products, natural resources and critical raw materials" from EU countries will be duty-free in the U.S. as part of a trade deal between the two sides.
The Office of the U.S. Trade Representative launched a Section 301 investigation on Brazilian policies that discriminate against American firms, naming these issues: