President Donald Trump posted over the weekend that he's prepared to levy new sanctions against Moscow if U.S. allies stop purchasing Russian oil and potentially put in place other sanctions against the country.
Two Republican senators took to the Senate floor this week to reiterate their support for increasing sanctions on Russia to pressure it to end its war against Ukraine.
H.R. McMaster, former national security adviser during the first Trump administration, said he disagrees with the government's plan to approve exports of Nvidia's advanced H20 chips to China (see 2508220003) and hopes the administration soon develops a more coherent economic security strategy.
Democrats in the Senate are arguing that it's time to pass a bipartisan bill that would authorize up to 500% tariffs on goods from countries that buy Russian oil and gas and aren't providing aid to Ukraine to defend itself.
President Donald Trump threatened to impose export controls on technology and semiconductors if countries have digital policies he dislikes.
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.