Mexico has imposed a tariff of 156% on imports of sugar, according to a decree published Nov. 11 in the country's Official Gazette.
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."
China has added the U.S., Canada and Mexico to its list of countries requiring export licenses for certain precursor chemicals, its Ministry of Commerce announced Nov. 10, according to an unofficial translation.
China has suspended port fees for U.S. ships and sanctions on five U.S. subsidiaries of South Korean shipbuilder Hanwha Marine Corporation in response to the Trump administration's decision last week to drop ship fees for Chinese vessels and slash tariffs on Chinese goods (see 2511030005).
Although China agreed to temporarily suspend its sweeping rare earth export restrictions, the threat of those controls returning appears likely, said Jude Blanchette, director of the Rand China Research Center.
China's Ministry of Finance officially published notices this week to suspend certain tariff rates on U.S. exports for one year, part of an agreement made between the two sides during trade talks in South Korea (see 2511030005). Beginning Nov. 10, China will suspend an additional 24% tariff rate on the U.S. for one year while maintaining a 10% additional tariff rate on certain U.S. goods, the ministry said, according to an unofficial translation of one notice. Another notice says China will suspend certain tariffs, beginning Nov. 10, that had applied to certain agricultural goods, including chicken, wheat, corn and cotton, according to state-run news outlet Xinhua.
The U.S. should drop tariffs on EU steel from 50% to 15% and suspend Section 232 investigations targeting EU products as part of the two sides' trade framework announced in August (see 2508200052), said Bernd Lange, the chair of the EU Parliament’s Committee on International Trade. He also said the EU should work in a sunset provision that would end the agreement if the two sides haven’t made progress in 18 months.
The U.K.’s new trade sanctions enforcement agency warned freight forwarders and carriers this week about their obligation to comply with Russia-related restrictions, saying they risk criminal and civil penalties if they’re not doing enough due diligence to make sure every consignment they deal with complies with U.K. law.
The Philippines and the United Arab Emirates have applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership to counter U.S. trade tariffs, Nikkei Asia reported Nov. 3, citing Japanese government sources. Last December, the 12-nation free trade agreement invited Costa Rica to begin the process of becoming a member (see 2412030053).
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.