President Donald Trump and Brazil's President Luiz Inácio Lula da Silva had a "friendly" talk for 30 minutes Oct. 6, according to an unofficial translation of a Brazilian readout. Trump wrote on social media, "This morning, I had a very good telephone call with President Lula, of Brazil. We discussed many things, but it was mostly focused on the Economy, and Trade, between our two Countries. We will be having further discussions, and will get together in the not too distant future, both in Brazil and the United States. I enjoyed the call — Our Countries will do very well together!"
There will be some rapprochement on trade between India and the U.S. by the end of the year, but nothing substantive, former U.S. trade negotiators predicted during an Oct. 3 webinar.
Think tank scholars said they think it's possible that tariffs on Chinese goods could decline by 20 percentage points after the two countries' presidents meet in a month, but that it's also possible that tariffs could soar again if President Donald Trump is angered by China's support for Russia, Iran or aggression toward the Philippines.
President Donald Trump posted on social media that 25% tariffs on medium and heavy-duty trucks will begin Nov. 1. The additional tariffs are being imposed under a national security Section 232 action. Trump had previously said the tariffs would begin Oct. 1.
Sen. Bernie Moreno, R-Ohio, told Reuters that the White House is considering "significant tariff relief for U.S. auto production." Carmakers are paying higher tariffs on imported parts, steel and aluminum.
Pharmaceutical tariffs were not applied on Oct. 1, as previously threatened by the Trump administration (see 2509250066), to give companies time to continue negotiating and begin on-shoring their manufacturing, according to recent statements by Commerce Secretary Howard Lutnick.
Given the White House's focus on trade enforcement, Customs rulings have become a way for importers to ensure they are following trade regulations appropriately.
President Donald Trump posted on social media that U.S. soybean growers are hurting "because China is, for 'negotiating' reasons only, not buying. We’ve made so much money on Tariffs, that we are going to take a small portion of that money, and help our Farmers. I WILL NEVER LET OUR FARMERS DOWN!"
Pfizer announced that, after agreeing to expand manufacturing and change its pricing strategy, its imported drugs will not be tariffed.
CBP expects to continue to implement new Section 232 tariffs should the government shutdown persist past the effective date of any new tariffs, officials said on an Oct. 1 call with the trade to discuss the government shutdown. CBP also plans to implement expected tariffs, such as the ones for lumber and furniture that take effect Oct. 14, without delays.