China will increase tariffs on $60 billion worth of U.S. goods in response to the Trump administration’s decision to ramp up tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, Beijing announced today.
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The U.S. will eliminate Section 232 tariffs on steel and aluminum from Canada and Mexico in exchange for the repeal of retaliatory duties on U.S. goods, though all parties retain authority to re-impose 25 and 10 percent tariffs if there is a surge in imports and consultations about the sudden increase fail.
The Office of the U.S. Trade Representative could announce a final resolution to the national security-based steel and aluminum tariffs on Canada and Mexico as soon as Friday, sources tell Inside U.S. Trade.
President Trump on Friday signed a proclamation setting a six-month deadline for the U.S. to reach a deal with the European Union and Japan to “address the threatened impairment of the national security with respect to imported automobiles and certain automobile parts.”
The Trump administration terminated Turkey’s Generalized System of Preferences benefits on Friday, saying its economy was sufficiently developed, according to a proclamation signed by the president on Thursday.
An executive order President Trump signed on Wednesday that lays the groundwork for the U.S. to ban imports of Chinese information communication technology exports creates further pressure on Beijing to make concessions in trade negotiations with the U.S., according to industry sources.
News Analysis
Staving off the looming paralysis of the World Trade Organization’s Appellate Body is increasingly unlikely as the U.S. has repeatedly rebuffed -- or ignored -- efforts by other members to satisfy Washington’s objections.
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NAFTA
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The U.S. will eliminate Section 232 tariffs on steel and aluminum from Canada and Mexico in exchange for the repeal of retaliatory duties on U.S. goods, though all parties retain authority to re-impose 25 and 10 percent tariffs if there is a surge in imports and consultations about the sudden increase fail.
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The Office of the U.S. Trade Representative could announce a final resolution to the national security-based steel and aluminum tariffs on Canada and Mexico as soon as Friday, sources tell Inside U.S. Trade.
World Trade Organization
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China has said it does not want to include cross-border data flow in negotiations.
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Staving off the looming paralysis of the World Trade Organization’s Appellate Body is increasingly unlikely as the U.S. has repeatedly rebuffed -- or ignored -- efforts by other members to satisfy Washington’s objections.
Documents
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