The Aluminum Association cheered the Mexican decision to apply tariffs to 544 tariff lines in aluminum and aluminum products. The tariffs are as low as 5% or 10% on some products, but are 25% and 35% on most.
Treasury Secretary Janet Yellen, in an interview with Reuters, said that while in her view, outright seizure of frozen Russian assets in the U.S. and Europe is justifiable, that's not the only option to put those assets to use to help Ukraine's economy survive the Russian invasion.
Russia is still able to buy semiconductors for its war effort -- especially from China -- despite Western sanctions and export controls, a semiconductor policy researcher said in a new report this month. Although the restrictions are forcing Russia to pay almost double for some chips and require Russian supply chain managers to constantly find new supply lines, the report said Chinese suppliers are increasingly filling the market gap left by companies in the U.S. and elsewhere who are adhering to the export restrictions.
The State Department will “probably” meet a new deadline to finalize an International Traffic in Arms Regulations (ITAR) exemption for Australia and the U.K. under the Australia-U.K.-U.S. (AUKUS) Enhanced Trilateral Security Partnership, a department official said April 23.
President Joe Biden signed into law April 24 a wide-ranging national security bill that will, among other things, ban TikTok in the U.S. if China’s ByteDance doesn't sell the popular social media application to an entity that isn’t controlled by a foreign adversary (see 2404220041 and 2404180020).
Japan opened an antidumping duty investigation on graphite electrodes from China, the ministries of Finance and Economy, Trade and Industry announced, according to an unofficial translation. The ministries decided to conduct the joint investigation following a petition from Japanese companies SEC Carbon, Tokai Carbon Co. and Nippon Carbon Co. The investigation will take one year and will allow for interested parties to comment on the proceeding.
U.S. exports of semiconductors and their components to China dropped 39% to $6.8 billion in 2023 and were down 52% from their 2021 peak, partly due to restrictions the Bureau of Industry and Security released in October 2022 and expanded a year later (see [Ref:2310170055), the U.S.-China Business Council said April 23.
The European Commission on April 24 opened the first investigation under its International Procurement Instrument in response to practices in the Chinese procurement market for medical devices which allegedly "discriminate unfairly against European companies and products," the commission said.
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Former top officials in the Office of the U.S. Trade Representative during the Trump and Biden administrations said there will be no return to a pre-Trumpian, pro-free trade philosophy, whether Joe Biden wins re-election this fall or Donald Trump returns to the White House in 2025.