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.
A group of 36 senators and 171 representatives filed an amicus brief last week at the Supreme Court, challenging President Donald Trump's ability to impose tariffs under the International Emergency Economic Powers Act. All the signatories were members of the Democratic Party, save for Sen. Lisa Murkowski, R-Alaska (Donald J. Trump v. V.O.S. Selections, U.S. 25-250) (Learning Resources v. Donald J. Trump, U.S. 24-1287).
Treasury Secretary Scott Bessent said after two days of meeting with Chinese negotiators, he anticipates a threatened additional 100% tariff on Chinese goods won't come Nov. 1, and that the Chinese will defer their critical minerals export control licensing scheme.
U.S. Trade Representative Jamieson Greer is launching a Section 301 investigation on how China implemented -- or failed to implement -- its commitments in the phase one trade agreement. It will examine if there was a burden on U.S. commerce from non-implementation "and what action, if any, should be taken in response."
Companies may need to decide soon whether to file protests as a means of hedging against how the Supreme Court might rule on the International Emergency Economic Powers Act tariffs, Flexport's Marcus Eeman said on an Oct. 22 webinar on recent U.S. tariff actions.
The Office of the U.S. Trade Representative says that Nicaragua's leaders are repressing labor rights and human rights, and dismantling the rule of law, and that these authoritarian actions are directly and indirectly harming U.S. commercial interests.
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.
CBP issued the following releases on commercial trade and related matters:
U.S. Trade Representative Jamieson Greer, in a joint press conference with Treasury Secretary Scott Bessent, said the administration has already drafted some documents to hike tariffs on Chinese goods, and is drafting other documents that might impose more export controls for goods sold to Chinese firms.