The U.K. and India agreed to a new free trade deal this week that will reduce tariffs for a range of goods in what will be a “huge economic win” for the U.K., the country announced. The U.K.’s trade agency said the agreement will reduce Indian tariffs on 90% of U.K. exports’ tariff lines -- including whiskey, cosmetics and medical devices -- and 85% of those lines are expected to become “fully tariff-free within a decade.” The U.K. also said it plans to reduce import duties that will lead to lower prices for clothes, footwear, and food products from India, including frozen shrimp.
Malaysia's Ministry of Investment, Trade & Industry will be the only entity capable of issuing non-preferential certificates of origin for Malaysian shipments destined to the U.S., the agency said this week, adding that the change will help address traders that use its ports to illegally transship foreign goods to the U.S. and evade certain American import duties.
The Senate Banking Committee voted 13-11 along party lines May 6 to approve Landon Heid to be assistant secretary of commerce for export administration, sending his nomination to the full Senate for consideration.
Both the Japanese government and Japanese reporters' coverage of Japan's more than two-hour talk with the U.S. trade representative, commerce secretary and treasury secretary describe politicians who are not in a hurry to settle to avoid 24% tariffs under the reciprocal tariff plan that is scheduled to take effect in early July.
The U.K. has finished gathering public input from industry about the Trump administration’s recent tariff measures (see 2504030057) and is working to “rapidly” analyze the responses “while keeping all options on the table,” the country’s Department for Business and Trade said May 2. It also said possible trade negotiations with the U.S. to remove the tariffs “continue at pace and remain our focus.” The U.K. earlier this year published a list of over 8,000 goods imported from the U.S. that possibly could be hit with retaliatory tariffs.
China is "evaluating" whether to begin trade talks with the U.S. after the Trump administration recently sent messages to Beijing in a bid to start negotiations about recent tariffs imposed by the two nations, China's Ministry of Commerce said May 2, according to an unofficial translation of a portion of a press conference. Senior U.S. officials "have repeatedly expressed their willingness to negotiate with China on tariffs," a ministry spokesperson said. "China is currently evaluating this."
Canada this week published new guidance and other resources to help Canadian companies facing increased costs from “unjustified tariffs” imposed by the U.S., including a new webpage for understanding how businesses can secure tariff-free treatment for certain goods under USMCA. Canada said it’s “providing new and comprehensive information on rules of origin and customs procedures under” the trade deal, including a new webpage on understanding USMCA compliance, “self-serve resources for problem solving related to tariffs,” and a list of federal and provincial Canadian support programs available to businesses. The country also said small and medium-size companies can call the government’s new hotline on weekdays for information on USMCA.
Paul Dabbar, President Donald Trump’s nominee to be deputy commerce secretary, said May 1 that he would support the 1979 international Agreement on Trade in Civil Aircraft, which calls for eliminating tariffs on civil aircraft, engines, flight simulators and related parts.
Luke Lindberg, President Donald Trump’s nominee to be undersecretary of agriculture for trade and foreign agricultural affairs, said April 29 that he would seek to lower barriers to U.S. agricultural exports in a wide range of places, including the EU, which “routinely shuts out our products at the altar of non-scientific based claims.”
The Chinese government has reportedly added U.S. ethane imports to a growing list of unannounced exemptions to its universal 125% tariff rate on U.S. products.