Harris Sliwoski, an international law firm, published a blog post noting that the mention in the Vietnam trade deal framework of 40% tariffs for "transshipped" goods from Vietnam is designed to reduce China's role in supply chains.
Five importers challenging the tariffs imposed under the International Emergency Economic Powers Act told the U.S. Court of Appeals for the Federal Circuit that the government's defense of the tariffs' legality falls short. The importers, represented by the conservative advocacy group Liberty Justice Center, argued that IEEPA categorically doesn't provide for tariffs, IEEPA is precluded from being used to address trade deficits due to the existence of Section 122, and the Court of International Trade was right to issue an injunction against the tariffs (V.O.S. Selections v. Donald J. Trump, Fed. Cir. # 25-1812).
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.
President Donald Trump, at a Cabinet meeting conducted in front of the press on July 8, said that an announcement on lumber tariffs or quotas "just came out," adding, "now today, we're doing copper. I believe the tariff on copper we're gonna make that 50%."
President Donald Trump issued an executive order late July 7 that said he is postponing the effective date of higher country-specific reciprocal tariff rates from July 9 to Aug. 1 "based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners."
Two days before the now extended pause on higher country-specific reciprocal tariffs was to end (see 2507070054), President Donald Trump shared screenshots of letters he is sending to trading partners large -- Japan, South Korea, Thailand, Indonesia and Malaysia -- and small, informing them what rates their goods will face at the border, starting Aug. 1.
President Donald Trump issued an executive order late July 7 that said he is postponing the effective date of higher country-specific reciprocal tariff rates from July 9 to Aug. 1 "based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners."
President Donald Trump continued to post screenshots of his tariff letters July 7, informing Laos and Myanmar of a 40% rate for their products, Kazakhstan and Malaysia of a 25% rate, and South Africa of a 30% rate.
President Donald Trump shared the text of his "offer letters" to Japan and South Korea, telling those countries' leaders that goods from their countries will be subject to 25% tariffs, beginning Aug. 1. Back in April, he had said a 24% reciprocal tariff rate would apply to Japanese goods, and a 25% rate would apply for South Korean goods, with those rates briefly taking effect before being delayed until July 9.
President Donald Trump expressed pessimism about reaching a trade deal with Japan, and suggested that the tariff rate would be higher than the 24% country-specific rate briefly in effect April 9 in comments to reporters traveling on Air Force One July 1.