As a Russia sanctions bill appears to have more momentum (see 2511170041), Democratic senators declined to say what tariff levels would be effective or appropriate if it becomes law.
Trade frameworks with Argentina, El Salvador, Guatemala and Ecuador have all those countries pledging to "enhance cooperation with the United States to combat non-market policies and practices of other countries. The ... countries have also committed to identifying tools to align approaches to export controls, investment security, duty evasion, and other important topics."
Center for Strategic and International Studies adviser Bill Reinsch, who served as undersecretary of commerce for export administration for seven years earlier in his career, said he thinks loosening up export controls on AI-capable chips is the right move, but he regrets that exports to the United Arab Emirates are the prominent example.
Rep. Raja Krishnamoorthi, D-Ill., the ranking member of the House Select Committee on China, is asking Commerce Secretary Howard Lutnick to tell him whether allied governments were consulted before the White House announced that chip exports from Nexperia's China factory would resume, suggesting that the EU was caught flat-footed at the development. Nexperia makes semiconductors used in automobiles.
House Ways and Means Committee member Rep. Jodey Arrington, R-Texas, introduced a bill that would either require the Office of the U.S. Trade Representative to seek a dispute settlement panel over Mexican energy policies, or to make compliance with USMCA in energy a condition of continuing a pact.
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.
A former State Department analyst on export control and sanctions evasion under President Joe Biden and a former National Security Council director for China under President George W. Bush agreed that the Bureau of Industry and Security's 50% rule was not fully thought through before its announcement.
Sen. Richard Blumenthal of Connecticut, the top Democrat on a Russian secondary sanctions bill, said he's not discouraged that Senate Majority Leader John Thune is putting off a vote on the bill again. The bill has 85 sponsors in the Senate, and would give the president the ability to put up to 500% tariffs on the goods of countries that buy Russian fossil fuels; it also would expand sanctions on Russian officials.
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.
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."