A U.S.-U.K. trade deal announced in the Oval Office leaves the average tariff on U.K. goods at 10%; however, aerospace engines and parts will enter duty-free.
The EU should take lessons learned from the “effectively dormant” U.S.-EU Trade and Technology Council (see 2503280039) and translate those into a new strategy for coordinating export controls and other trade issues with allies, the Paris-based Institut Montaigne think tank said in a report released this month.
Vice President JD Vance, at a Q&A with Wolfgang Ischinger, a former German ambassador to the U.S., said it should be "very, very easy" to talk with officials at the EU about the bloc lowering its regulatory barriers to trade and its approach to U.S. tech giants.
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."
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.”
Japanese lawmakers this week urged the Trump administration to continue engaging with allies on economic security issues and to not close off America from Japanese investment, saying Japanese companies will help grow American exports and reduce the U.S. trade deficit.
Recent U.S. trade actions, such as the IEEPA tariffs on China, Canada and Mexico, the Section 232 tariffs on steel and aluminum derivatives, and the temporarily paused reciprocal tariffs on dozens of countries worldwide, could cause global container volumes to slump by 1% in 2025, according to U.K-based maritime shipping advisory firm Drewry.
Amid swirling reports that China is considering exemptions from tariffs on some critical U.S. goods, an industry expert said that these moves should not be read as a broader shift in the trade war between the two countries.