President Donald Trump told reporters that unless China stops fentanyl shipments, resumes buying U.S. soybeans and stops playing "the rare earth game with us," he won't lower tariffs.
China is looking to shorten its export license application review times, and potentially issue exemptions, as it approaches the Dec. 1 effective date of its new rules to restrict overseas exports that contain certain levels of Chinese-origin material (see 2510090021), a Commerce Ministry spokesperson said Oct. 16 during a press conference.
The U.S. is drafting a new set of export controls to use against China if Beijing follows through on its rules to restrict overseas exports that contain certain levels of Chinese-origin material (see 2510090021), senior administration officials said Oct. 15 during a press conference. They also said they're working to coordinate a response with allies.
China is imposing new port fees on U.S. ships and placing sanctions on five U.S. subsidiaries of South Korean shipbuilder Hanwha Marine Corporation in response to the Office of the U.S. Trade Representative’s Section 301 investigation of China’s maritime, logistics and shipbuilding sectors (see 2506100023).
President Donald Trump, on his way to Israel, softened his message on tariffs on Chinese goods. When asked if imposing those tariffs was still the plan, he said, "Right now it is. Let's see what happens. November 1st is an eternity."
President Donald Trump reacted angrily to China's plan to expand export restrictions, including when rare earths are in products made abroad (see 2510090021. In a social media post that seemed to trigger a 2.7% drop in the S&P 500, he wrote, "Dependent on what China says about the hostile 'order' that they have just put out, I will be forced, as President of the United States of America, to financially counter their move. For every Element that they have been able to monopolize, we have two."
House Select Committee on China ranking member Raja Krishnamoorthi, D-Ill., urged the Trump administration Oct. 8 to open new markets for U.S. soybean exports in Southeast Asia, South Asia, Africa and the Middle East.
Rep. Eric “Rick” Crawford, R-Ark., introduced a bill Sept. 30 that would require the president to form a task force to identify trade barriers to U.S. agricultural exports and develop and implement a strategy to enforce trade agreements against those barriers.
Sara Schuman, the Office of the U.S. Trade Representative's former senior trade representative for China, has joined Beacon Global Strategies to lead its new international trade practice. Schuman, who left government in 2023, was responsible for trade negotiations with China and coordinating "economic security initiatives" with allies, the firm said.
Sen. Catherine Cortez Masto, D-Nev., and Sen. Dave McCormick, R-Pa., introduced a bill last week to direct the Office of the U.S. Trade Representative to prioritize convincing Canada and Mexico to institute a foreign investment review board similar to the Committee on Foreign Investment in the United States, or CFIUS.