Commerce Secretary Wilbur Ross will testify before the Senate Finance Committee on Wednesday, offering lawmakers the chance to probe the administration’s use of Section 232 of the 1962 Trade Expansion Act to impose tariffs on trading partners -- and to offer their thoughts on other countries' retaliatory moves.
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President Trump’s decision to consider tariffs on an additional $200 billion worth of Chinese goods is a “purely defensive” move by the administration to defend against Beijing’s economic aggression in pursuit of the “crown jewels” of American technology, White House trade adviser Peter Navarro said on Tuesday.
President Trump on Monday night upped the ante in his administration’s trade feud with China by ordering U.S. Trade Representative Robert Lighthizer to identify $200 billion worth of Chinese goods for additional 10 percent tariffs.
A Global Forum on Steel Excess Capacity ministerial-level meeting set for this week has been postponed, likely until September, according to a G20 spokeswoman.
Secretary of State Mike Pompeo on Monday said he was hopeful that NAFTA “agreements” would be ripe for announcement in the coming weeks, defended President Trump’s use of tariffs and accused Chinese leaders of not being serious when claiming to champion economic openness and globalization.
Agriculture Secretary Sonny Perdue on Friday said the administration believes it can secure a deal on the North American Free Trade Agreement with Mexico first, then sort out the remaining issues with Canada and potentially finalize a trilateral deal this summer.
An amendment to a must-pass defense bill that would prevent the Trump administration from lifting sanctions on Chinese telecom giant ZTE may lead to a battle in Congress after the White House signaled opposition to it this week.
This Week In Trade
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NAFTA
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Secretary of State Mike Pompeo on Monday said he was hopeful that NAFTA “agreements” would be ripe for announcement in the coming weeks, defended President Trump’s use of tariffs and accused Chinese leaders of not being serious when claiming to champion economic openness and globalization.
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Agriculture Secretary Sonny Perdue on Friday said the administration believes it can secure a deal on the North American Free Trade Agreement with Mexico first, then sort out the remaining issues with Canada and potentially finalize a trilateral deal this summer.
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World Trade Organization
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India this week pledged to maintain its agricultural domestic support systems despite U.S. allegations that they violate World Trade Organization rules.
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The U.S. Lumber Coalition says the letter “states that anti-dumping and countervailing duties imposed by the U.S. on Canadian softwood lumber are the chief driver of current lumber prices, a claim that is inaccurate.”
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