World Trade Organization Director-General Ngozi Okonjo-Iweala told former U.S. Trade Representative Michael Froman that she had a meeting with USTR Jamieson Greer "yesterday that was a little bit comforting," but that the current 10% U.S. tariff on most countries, plus 25% tariffs on cars, steel and aluminum and some products from Canada and Mexico, and 145% tariffs on Chinese imports, if it lasts, will result in global merchandise trade falling by 0.2%. Before the actions, the WTO forecast a 2.7% growth in goods trade this year.
The Office of the U.S. Trade Representative has released in the Federal Register its Section 301 determination on U.S. shipbuilding (see 2504180018), meaning that it has confirmed the timelines for when the U.S. government will collect fees on foreign-built vessels docking at U.S. ports. Fee collection will begin Oct. 14.
Several trade groups representing shippers, the maritime industry and U.S. ports criticized the Office of the U.S. Trade Representative's Section 301 determination last week calling for a phased-in approach to levy fees on foreign-built vessels and car-carrying vessels docking at U.S. ports as part of a broader push to build and bolster an American shipbuilding industry (see 2504180018).
President Donald Trump criticized business officials who have said his tariffs actions are damaging, bragged about countries and executives asking for breaks, and made a list of non-tariff cheating he wants countries to end, all on social media over the weekend.
The Office of the U.S. Trade Representative is planning a phased-in approach to assessing fees on foreign-built vessels calling at U.S. ports, according to an April 17 announcement unveiling the results of its year-long Section 301 investigation.
The first few weeks of Undersecretary Jeffrey Kessler’s tenure at the Bureau of Industry and Security have been defined by industry uncertainty and skepticism toward career government and business officials, industry members and BIS staff said.
President Donald Trump was set to join talks at the White House with Japan April 16 “to negotiate Tariffs, the cost of military support, and ‘TRADE FAIRNESS,’” he said in a Truth Social post earlier in the day. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were also set to attend, he said. “Hopefully something can be worked out which is good (GREAT!) for Japan and the USA!”
House Foreign Affairs Committee ranking member Gregory Meeks, D-N.Y., and former House Majority Leader Steny Hoyer, D-Md., introduced a bill April 14 that would increase sanctions and export controls on Russia over its invasion of Ukraine.
World Trade Organization members elected Argentina's Gustavo Nerio Lunazzi the new chair of the Council for Trade in Goods, the WTO announced.
China is raising tariff levels to 125% for U.S. origin goods in response to President Donald Trump's April 9 decision to raise tariffs to the same rate for Chinese goods (see 2504090043).