Brazil temporarily removed tariffs on all imports of paddy rice, husked/brown rice and milled rice, USDA’s Foreign Agricultural Service said in a report last week. The duty suspension, meant to prevent “potential supply issues” and replenish Brazilian rice stocks following recent floods, is effective from May 21 until Dec. 31, USDA said. The agency said this could “stimulate” American rice exporters to focus on Brazil, pointing to a similar situation in 2020 when Brazil introduced duty-free imports and the U.S. became the top exporter behind the Mercosur countries in Latin America.
China’s commerce ministry this week declined to confirm reports that it’s considering new import tariffs on European and American vehicles (see 2405220042) and instead continued to criticize U.S. and EU measures against Chinese electric cars.
A December executive order that gave the U.S. broader authority to sanction financial institutions involved in shipping goods to Russia has had a “meaningful impact” on Russia’s military industrial supply chains so far, Treasury Secretary Janet Yellen said this week.
China may consider raising import tariffs on cars from the EU, the U.S. and possibly elsewhere, the China Chamber of Commerce to the EU said this week.
Secretary of State Antony Blinken on May 21 defended the U.S. government's use of sanctions against China, saying the Biden administration resorts to punitive measures only when diplomatic efforts fail to achieve the desired result.
U.S. export controls may not be the best way to counter China’s legacy semiconductor industry, especially because the EU and other allies aren’t likely to adopt similar restrictions, researchers said this month. The researchers said they expect the U.S. to turn more frequently to entity-based controls -- including through the Bureau of Industry and Security’s Entity List -- and other national security tools to address risks relating to more mature-node chips.
Mexico last week removed tariffs on certain aluminum imports because of a shortage in domestic production of raw unalloyed and alloyed aluminum. The country is revoking its 35% tariff on unalloyed aluminum and 20% tariff on alloyed aluminum imports from countries with which it doesn’t have a free trade deal. “The availability of said merchandise in countries with which Mexico has signed an international treaty on trade matters is insufficient to satisfy the supply of the automotive industries, auto parts, and electronics, among others, which is why it is necessary to delete” the tariffs, Mexico said in a notice published in its Diario Oficial de la Federacion May 8, according to an unofficial translation. The tariffs had been in place since April as part of a broader package of increased duties.
While the U.S. should look to counter China with export controls, tariffs and outbound investment restrictions, it also needs to better incentivize trading partners to diversify their supply chains away from China, the Atlantic Council said this week.
Reps. Chip Roy, R-Texas, and Brian Mast, R-Fla., introduced a bill May 7 that would sanction International Criminal Court (ICC) officials if they issue arrest warrants for Israeli officials over the war in Gaza.
German automakers don't want the EU to impose trade restrictions on Chinese electric vehicles, Hildegard Muller, president of the German Automotive Industry Association, told Beijing in a meeting with Chinese Commerce Minister Wang Wentao this week.