Canadian Prime Minister Mark Carney said that Canada is dropping its retaliatory tariffs on American exports -- except for those in steel, aluminum and autos -- as long as those U.S. goods qualify for USMCA.
The president of the American Soybean Association told President Donald Trump that soybean farmers "cannot survive a prolonged trade dispute with our largest customer," urging him to have his trade team persuade China to drop its 20% tariff on American soybeans.
Sen. Tommy Tuberville, R-Ala., said Aug. 19 he is optimistic the Trump administration’s new trade deal with the EU will help peanut farmers in his state increase their exports to Europe.
The U.S., the EU and others should pursue tougher enforcement on Chinese companies that continue to supply Russia’s military industrial complex and continue to buy Russian oil, panelists said during an event this week hosted by the Peterson Institute for International Economics. One said the EU should consider automatically sanctioning any Chinese company whose products are found more than once in drones, missiles or other military items used by Russia.
Despite co-sponsoring a bill that would impose a wide range of sanctions on Russia and its supporters if Moscow refuses to reach a peace deal with Ukraine, Sen. Tommy Tuberville, R-Ala., said Aug. 19 he is hesitant for Congress to take up the legislation when it returns from its August recess.
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The U.S. is holding off on imposing new sanctions against Russia because it believes those measures will undercut any chance of a peace deal between Russia and Ukraine “for the foreseeable future,” Secretary of State Marco Rubio said this week, despite calls from the EU and others to continue strengthening sanctions against Moscow.
Treasury Secretary Scott Bessent this week echoed earlier comments from the White House that said the administration is open to expanding its Nvidia and AMD revenue-sharing export arrangements to other companies or industries (see 2508120049). He said the U.S. is OK negotiating export controls over Nvidia’s H20s chips because they present no national security issues.
China said it will continue to suspend retaliatory tariffs against the U.S., as well as its addition of dozens of U.S. companies to the country’s unreliable entity list, after President Donald Trump announced that the U.S. would be delaying reciprocal tariffs against Beijing for 90 days.
Brazil requested dispute consultations with the U.S. at the World Trade Organization on Aug. 11 regarding the 50% tariffs that President Donald Trump recently imposed on Brazilian goods. Brazil said the measures are inconsistent with U.S. obligations under Articles I and II of the General Agreement on Tariffs and Trade (GATT) 1994 and Articles 23.1 and 23.2 of the Dispute Settlement Understanding (DSU).