All articles tagged with #us trade policy
Target disclosed about $994 million in pre-tax tariff refunds, boosting its second-quarter operating income to $2.6 billion from $1.3 billion a year earlier; the refunds follow a Supreme Court ruling that Trump-era tariffs were unlawful, while tariffs policy remains unsettled as Trump delays Canada duties during talks. The retailer is pursuing a price-competitive turnaround and aims to reduce reliance on China sourcing.
The White House says more than 40 countries participate in a 'Great Transshipment Scam' that hides Chinese goods in shipments to dodge US tariffs, naming the EU, Mexico, Canada, India, Japan, South Korea and several Southeast Asian nations as key enablers. AI-assisted enforcement is being rolled out at borders as part of a broader push, while Democratic-led states sue the tariffs and experts say the administration is pursuing new ways to pressure market access.
The US is slapping 10% to 12.5% tariffs on roughly 60 trading partners—covering about 99.4% of imports—after determining many nations do not adequately prohibit or enforce bans on goods produced with forced labor; nations with enforceable bans face 10%, others 12.5%; the move, using Section 301 and related powers, marks another step in the Trump-era tariff strategy amid a contentious global trade environment and potential legal or retaliation pushes.
The United States will impose a 25% tariff on a subset of Brazilian imports starting July 22 after a yearlong Section 301 investigation found Brazilian policies unfairly harmed US interests, spanning issues like digital trade, ethanol access, and deforestation. Exemptions apply to major exports such as coffee, beef, avocados, Brazil nuts, petroleum oils and aircraft parts. The U.S. says it remains open to negotiations, while Brazil’s Lula da Silva criticized the move and signaled countermeasures and WTO recourse. A separate forced-labor probe could add another 12.5% tariff (potentially bringing total duties to 37.5%), depending on next steps.
The Trump administration proposed new double‑digit tariffs tied to forced‑labor concerns, with 16 economies facing 10% duties and 44 others at 12.5%; exemptions apply to many products (aircraft parts, food, rare earth minerals) and to Canada/Mexico under USMCA. Public hearings begin July 7, and the tariffs are not immediate, pending reviews. The move aims to replace revenue lost after court challenges to prior tariffs and signals further Section 301 actions, drawing mixed reactions from China and the EU as the administration presses ahead with a global tariff strategy.
The U.S. Trade Representative proposed 25% tariffs on Brazilian goods under Section 301, accusing Brazil of unfair practices that burden U.S. commerce—from anti-corruption enforcement and IP protection to ethanol market access and deforestation—with a July 6 hearing planned as Washington and Brasília negotiate, despite some ongoing talks.
A US Court of International Trade ruled that Donald Trump’s 10% global tariffs imposed under Section 122 of the Trade Act of 1974 were unauthorized by law, applying only to the two companies in the case and not suspended broadly. The decision adds to legal headwinds against his trade agenda and hinges on whether balance-of-payments deficits are the same as a trade deficit. The White House did not comment, while ongoing Section 301 investigations could lead to new duties, with the baseline tariff set to expire in late July.
At the four-day WTO ministerial in Yaoundé, negotiators struggle to extend the e-commerce moratorium on digital tariffs as the deadline looms, with the United States pushing for a long horizon, Brazil opposing extensions, and India blocking plurilateral deals; options include a four-year extension with a sunset, a shorter stopgap, or letting the moratorium lapse, a decision that could derail broader reform if consensus cannot be found.
The United States opened new Section 301(b) trade probes into roughly 60 economies to assess whether governments failed to curb imports of goods made with forced labor. Targets include China, the European Union, India and Mexico, along with a broad list that also covers Australia, Indonesia, Japan, Malaysia, Singapore, South Korea, Switzerland, Thailand and the United Kingdom. Findings could justify tariffs without congressional approval, signaling a renewed push on global trade practices amid ongoing U.S. trade-policy actions and ahead of high-level talks with China.
FedEx filed a lawsuit seeking a full refund of all IEEPA-era tariffs paid during the Trump administration after the Supreme Court ruled the president exceeded his authority in imposing the duties; the suit, lodged with the U.S. Court of International Trade via Customs and Border Protection, highlights ongoing legal challenges to tariff costs and follows Costco’s similar filing, as FedEx warned tariffs could hurt 2026 earnings and overall profitability.
President Trump announced on social media that the global tariff will rise to 15% and take effect immediately, continuing his aggressive tariff strategy after the Supreme Court invalidated earlier duties. The 15% rate replaces the prior 10% rate with some exemptions (agriculture, Canada–Mexico under USMCA, certain Central American deals) and will apply to all other countries, while the administration signals use of other powers like Section 301 and Section 232 for further tariffs. The move aims to pressure allies and rivals to strike favorable terms, but risks higher costs for American consumers and businesses.
President Donald Trump announced a 25% tariff on any country doing business with Iran, effective immediately, a move that could affect large trading partners such as China and India. The White House gave few details on implementation while tensions with Tehran and Iran’s ongoing unrest provide context for the measure.
The US is reducing proposed tariffs on Italian pasta from potentially over 100% to between 24% and 29%, easing pressure on consumers and reflecting a softer stance in trade disputes with Italy amid political and economic considerations.
The article details the implementation of various tariffs and trade measures by the U.S., including a 10% baseline reciprocal tariff effective April 5, 2025, potential increases to 15-20%, a 40% transshipment penalty, and threatened additional tariffs on digital services taxes and specific country imports like Russian and Venezuelan oil. Several countries have specific rates or exemptions, with ongoing investigations into digital taxes.
U.S. President Donald Trump announced that Nvidia will not be allowed to sell its most advanced AI chips, the Blackwell series, to China, although the company can still deal with Beijing on other levels. Trump emphasized that only the U.S. will have access to these chips, amidst ongoing trade negotiations and a recent trade deal between the U.S. and China. The interview also covered topics like tariffs, the Israel ceasefire, and the Russia-Ukraine conflict.