Hours after President-elect Donald Trump said he would impose a 25% tariff on imports from Canada and Mexico until they take steps to address drugs and migrants crossing the border, Mexican President Claudia Sheinbaum warned that she might retaliate with her own set of trade restrictions.
China has been “consistently” building a set of policy tools it can use to retaliate against the U.S. and other countries in response to trade controls or other restrictions, and companies could soon start seeing China deploy those tools more frequently, said David Hathaway, a consultant on China issues for The Asia Group.
President-elect Donald Trump’s selection of billionaire businessman Howard Lutnick to be Commerce secretary (see 2411190036) drew mixed reaction on Capitol Hill this week.
European lawmakers are concerned more aggressive China-related policies put in place by the incoming Trump administration, including around investment screening, could lead more Chinese companies to shift their investments to Europe, possibly raising national and economic security risks for EU member states, they said this week.
President-elect Donald Trump will nominate billionaire businessman Howard Lutnick to be Commerce Department secretary, Trump announced Nov. 19. "He will lead our tariff and trade agenda, with additional direct responsibility for the Office of the United States Trade Representative," Trump said in a statement.
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The Trump administration would be unwise to expand its export controls to cover older-generation semiconductors destined to China, but it could pursue new restrictions over less advanced versions of the tools used to make certain chips, technology policy analysts said in interviews, particularly if it’s willing to be more aggressive than the Biden administration in talks with the Dutch and Japanese.
Recent meetings with American lawmakers during a visit to the U.S. gave the impression there is strong bipartisan support for maintaining the EU-U.S. Trade and Technology Council, a European Parliament member said Nov. 13.
Foreign investment lawyers aren’t expecting a big change in how the Committee on Foreign Investment in the U.S. operates under a second Trump administration, although a new round of tariffs against China and the continued easing of export restrictions among close U.S. allies could change the investment landscape and the number of filings submitted to CFIUS.
American exporters, especially in the agricultural industry, should expect to face retaliatory duties when selling to a range of U.S. trading partners if President-elect Donald Trump follows through on his promise to sharply increase tariffs when he takes office next year (see 2408140058), lawyers and advisers said this week.