Latest news with #U.S.InternationalTradeCommission
Yahoo
10-07-2025
- Business
- Yahoo
US to levy 50% copper tariffs Aug. 1
This story was originally published on Supply Chain Dive. To receive daily news and insights, subscribe to our free daily Supply Chain Dive newsletter. The U.S. will install a 50% tariff on copper imports starting Aug. 1, President Donald Trump said on Truth Social Wednesday. Trump said he made the decision to install the copper levies after receiving a national security assessment. The president first teased the new tariffs at a cabinet meeting earlier this week where he also suggested tariffs on pharmaceuticals would be coming 'very soon.' Earlier this year, Trump ordered a Section 232 investigation into copper imports. The probe called for the Secretary of Commerce to review domestic demand and production of copper and the impact of importing the metal. It also called for an assessment of 'whether additional measures, including tariffs or quotas, are necessary to protect national security.' Similar Section 232 investigations have served as precursors to U.S. tariffs, such as the 50% duties currently being levied on steel imports by the Trump administration. The customs value in dollars of U.S. copper imports in 2024 by country. Chile and Canada were the top exporters of copper to the U.S. last year, supplying more than $10 billion combined, per data from the U.S. International Trade Commission compiled by Supply Chain Dive. 'Implication: Copper tariffs will represent yet another source of cost-push inflation due to higher prices for imported metals,' said Jason Miller, interim chairperson of the department of supply chain management at Michigan State University, in a LinkedIn post Tuesday. Recommended Reading Trump's tariffs: Tracking the status of international trade actions Sign in to access your portfolio
NBC News
10-07-2025
- Business
- NBC News
Trump plans 50% tariff on Brazil and 'Superman' immigrant comment criticized: Morning Rundown
Donald Trump said he plans to impose a 50% tariff on imports from Brazil. Questions about the future of FEMA loom amid the Texas floods. And "Superman" becomes a political flashpoint ahead of the new movie's release. Here's what to know today. Trump threatens 50% tariff on Brazil, in part because of its treatment of its ex-president President Donald Trump has announced plans to impose a 50% tariff on Brazil, in part because of the treatment of its former president and Trump's political ally, Jair Bolsonaro. The 50% rate imposed on Brazil is by far the highest tariff Trump has slapped on any nation so far this week, and far more than the 10% tariff he said in his April 2 'Liberation Day' announcement that he would put on Brazil. Trump said yesterday in a post on Truth Social that 50% would be 'far less than what is needed' to achieve a 'level playing field.' The United States has a trade surplus with Brazil, and the country was the 18th-largest source of U.S. goods imports last year, according to U.S. International Trade Commission data. In a letter to Brazil's president Luiz Inácio Lula da Silva, Trump said that the treatment of Bolsonaro, who faces charges that he plotted to overturn his 2022 election loss, 'is an international disgrace.' Trump also accused the Brazilian government of attacking 'free elections' and Americans' free speech rights. Brazil's Supreme Court ruled last month that social media companies can be held accountable for the content posted on their platforms. On a day that was supposed to mark the end of a 90-day pause on reciprocal tariffs, which has since been pushed back until Aug. 1, Trump also revealed that he sent more letters dictating new tariff rates to at least seven more countries. The letters threaten higher tariff rates on their goods if they don't reach trade agreements by the August deadline. Those countries are Algeria, Brunei, Iraq, Libya, Moldova, the Philippines and Sri Lanka, and rates range from 20% to 30%. After Texas floods, questions about FEMA's future loom As more days pass since the July 4 flash floods that inundated parts of central Texas, hope is fading that rescue crews will find survivors, with at least 173 people still missing. The floods mark the first high-profile disaster that FEMA has faced since Trump took office, but because of the relatively small geographic area affected, former and current FEMA officials have said it's not a true test of the agency's current capabilities in the wake of a disaster. A bigger test could come later this summer as hurricane season reaches its peak. Still, the events in Texas come at a time when FEMA's future is in question. Trump has talked about the possibility of 'getting rid of' the agency, while Homeland Security Secretary Kristi Noem has tightened her grip on its operations. She now requires that all agency spending over $100,000 to be personally approved by her — a move that some argue is creating possible delays on the ground and a new layer of bureaucracy that goes against critics' goals of reducing red tape and costs. And then there's the void created largely by a voluntary exodus of FEMA leaders, including 16 senior officials who took with them a combined disaster expertise of more than 200 years. Despite the Trump administration's goal that states 'wean off of FEMA' and bring assistance 'down to the state level,' the agency, for now, still has the same mandate — just with fewer workers. After voting to push Trump's "big, beautiful bill" through the Senate, Sen. Josh Hawley told an event in his home state of Missouri that his goal is to ensure parts of the legislation don't go into effect — specifically, changes to Medicaid rules that limit state reimbursement. For rural hospitals and social safety net administrators in Missouri — and across the country — the new legislation, even if not fully implemented for a few years, brings uncertainty to communities dependent on funding from expanded Medicaid access, especially amid shortfalls and budget cuts. Hawley's position illustrates the challenges Republicans face as they try to sell the public on the bill they've been working on for months. Case in point: The event Hawley attended this week was a news conference to tout a less-noticed part of the 1,000-page bill that expands funds for victims of nuclear waste. "Gotta take the wins that you can," he said. Read the full story here. More politics news: Former CIA Director John Brennan and former FBI Director James Comey, two repeated targets of Trump, are under criminal investigation. But what they're being investigated for and how far the DOJ plans to take the probes are unclear. The Secret Service suspended six people without pay after the assassination attempt on Trump a year ago. Trump's desire for Republicans to bypass Democrats to claw back $9.4 billion in approved spending could upend the government funding process and threaten a shutdown fight. Trump complimented the president of Liberia for speaking 'good English.' English is the national language of Liberia, which was founded in part to resettle descendants of freed American slaves. Read All About It The resignation last month of University of Virginia President James Ryan came amid a federal investigation into allegations about the school's diversity programs. But a letter released last week reveals another reason the Justice Department targeted the university. Thirty-one workers at a Los Angeles construction site were rescued after a tunnel collapsed. PETA is suing the American Kennel Club, alleging its breed standards have 'caused deformities' and 'great suffering' to popular breeds like French bulldogs, pugs and dachshunds. Panera Bread settled three remaining lawsuits over its highly caffeinated Charged Lemonade, the beverage blamed for multiple deaths and permanent injuries. Linda Yaccarino announced she will step down as CEO of X, just a day after the Elon Musk-owned platform's AI chatbot published a wave of antisemitic posts. Superman is perhaps one of the most famous immigrants in pop culture. But with James Gunn's new 'Superman' movie, which premieres in theaters tomorrow, that part of his identity has become a political flashpoint. Gunn's comments about Superman being an 'immigrant that came from other places' has drawn the ire of conservative commentators, who lament that the superhero is being unnecessarily politicized. But is that really the case? I took a closer look at why fans say that Superman's immigrant identity has always been central to his story and how superhero comics have historically embraced political themes. — Angela Yang NBC Select: Online Shopping, Simplified On the third day of Amazon Prime Day, the NBC Select team has a roundup of the best tech deals. Plus, we have the best discounted household essentials you'll want to stock up on, as well as beauty and wellness deals. If you're also a fan of Nordstrom, the retailer is running exclusive deals this week and we've pulled together some of our favorites.
NBC News
09-07-2025
- Business
- NBC News
Trump hits Brazil with 50% tariff, in part due to trial of ally Jair Bolsonaro
President Donald Trump announced Wednesday he planned to hit Brazil with a 50% tariff, in part due to the treatment of its former president and his political ally, Jair Bolsonaro. In a letter posted to Trump's Truth social media network, he told current president Luiz Inacio Lula da Silva that "the way Brazil has treated former President an international disgrace." Trump has fiercely defended Bolsonaro, who is sometimes referred to as the 'Trump of the tropics,' as the former Brazilian leader faces charges that he plotted to overturn his 2022 election loss. "This trial should not be taking place," Trump added. Trump accused the Brazilian government of "insidious attacks on Free Elections, and the fundamental Free Speech Rights of Americans" including censorship of "U.S. Social Media platforms." Elon Musk's social media site X was briefly banned last year in Brazil after Musk refused to comply with a court request to ban some accounts. "In addition, we have had years to discuss our Trading Relationship with Brazil, and have concluded that we must move away from the longstanding, and very unfair trade relationship engendered by Brazil's Tariff, and Non-Tariff, Policies and Trade Barriers. Our relationship has been, unfortunately, far from Reciprocal." "Please understand that the 50% number is far less than what is needed to have the Level Playing Field we must have with your Country," Trump concluded. As with other countries that have received letters from the White House, Trump threatened even higher tariffs against Brazil if they choose to retaliate. Brazil was the 18th largest source of U.S. goods imports in 2024, with more than $42 billion worth of imports entering the country, according to U.S. International Trade Commission data. The 50% rate is by far the highest tariff Trump has slapped on any nation so far this week, as he rolls out dozens of letters on his social media platforms. Prosecutors in Brazil have alleged that Bolsonaro was part of a scheme that included a plan to assassinate the country's current president, who defeated him in the last election. Bolsonaro has denied all wrongdoing. 'Brazil is doing a terrible thing on their treatment of former President Jair Bolsonaro,' Trump said Monday on Truth Social. 'I have watched, as has the World, as they have done nothing but come after him, day after day, night after night, month after month, year after year! He is not guilty of anything, except having fought for THE PEOPLE.' In a reference to his own criminal charges, Trump added, 'This is nothing more, or less, than an attack on a Political Opponent — Something I know much about! It happened to me, times 10.'
Yahoo
17-06-2025
- Business
- Yahoo
Apparel Tariffs Climbed to Historic Highs in April
Tariff rates on apparel imported from across the globe spiked in April, and that upward trend seems poised to continue amid protracted negotiations between the United States and its preeminent trading partners, according to Dr. Sheng Lu. The University of Delaware professor of fashion and apparel studies assessed the U.S. International Trade Commission's (USITC) recently released data from April, which showed that as a result of President Donald Trump's reciprocal tariffs, announced on 'Liberation Day' on April 2, the average tariff rate for U.S. apparel imports reached 20.1 percent. More from Sourcing Journal Vietnam's Ready For High Stakes US Trade Talks To Avoid Steep Tariffs RH Continues to Mitigate Tariff Pressure; Says Revenues Will Take Short-term Hit China-to-US Freight Rates 'No Longer Surging'-Is it All Downhill from Here? That's a 13.8-percent increase from the same period a year prior and a 14.7-percent jump from January of this year, and the highest average duty rate on clothing imports seen in decades. The tax hikes were predictably particularly acute for apparel imported from China, which has seen numerous duty rate hikes since February, including an executive order setting tariffs at a whopping 145 percent for products across the board—a figure that' has fluctuated throughout a series of trade negotiations. In April, the average tariff rate for clothing imported from the sourcing superpower reached an unprecedented 55 percent, up from 37 percent in March and 22 percent in January. The data was skewed by the fact that many importers frontloaded orders to hit open waters before the steepest tariffs took effect, Lu said. China was far from the only sourcing locale that faced higher duties, though it is the most prolific producer of apparel. Removing China from the equation revealed an average tariff rate for apparel imports from other countries totaling 15.2 percent in April, Lu found. Though the rate was higher than the 12 percent to 13 percent seen in early 2025 before Trump took office, it was significantly more modest than the theoretical 10-percent universal baseline tariff increase announced by the administration. He told Sourcing Journal that average tariff rates for U.S. apparel imports from leading Asian suppliers like Vietnam, Bangladesh, and Cambodia followed similar patterns—higher tariffs, but well below a 10-percent increase. 'Similar to China's case, it appears that U.S. apparel imports from other countries in April 2025 included a significant proportion of products that were exempt from reciprocal tariffs because they were loaded onto a vesselearly enough,' Lu said. April's data illuminates some notable trends, chief among them, the quick-thinking actions taken by importers to frontload orders. But within the context of day-to-day evolutions in trade policy perpetuated by the Trump administration, April feels like lightyears, not months, in the past. And dealmaking with more than a dozen of the nation's prominent trading partners is still underway ahead of the expiration of the pause on reciprocal duties on July 9—a deadline the administration now says could be extended. This week, the president took to Truth Social to announce a new 55-percent tariff rate for China-made goods—the result of two days of trade negotiations between U.S. and China officials in London. While the president was quick to take a digital victory lap, hailing the deal as 'GREAT' on Thursday, neither head of state has officially ratified the terms. The trade truce won't 'help much in reducing market uncertainty,' Lu believes. 'Not only are the details of the agreement yet to be announced, but the nature of the deal, the pending legal case against Trump administration's imposition of [International Emergency Economic Powers Act] tariffs, and the pending tariff rates affecting U.S. apparel imports from other sources also contribute to this uncertainty,' he said. In other words, U.S. brands and retailers are still in a holding pattern, unwilling to make major decisions that could upend their global supply chains. But should the 55-percent rate on China imports stick, Lu believes American firms 'will further increase their sourcing volume from other leading Asian suppliers, particularly other leading apparel suppliers in Asia that are still subject to a relatively lower tariff rate, such as Vietnam, Bangladesh, and India.' This is a pattern that's already emerged over the past few months as China has been 'singled out' by the president, facing a much higher tariff burden than other Asian nations. Apparel imports from China fell in April by 13.3 percent as a result of the heavy duties, while imports from Vietnam (up 23.4 percent), Bangladesh (up 37.8 percent), Cambodia (up 38.6 percent), Pakistan (up 25.7 percent) and Sri Lanka (up 26.4 percent) positively 'surged,' Lu said. That doesn't necessarily mean Trump's plan to rebalance the trade deficit with China is working, though.'It should be noted that many apparel exports from these Asian countries may come from factories owned by Chinese investors,' Lu explained. 'It will also become increasingly common for Chinese garment factories to become 'super-vendors' with production capabilities in multiple countries.' In other words, China's reach and influence may grow as it adapts to increasingly prohibitive trade constraints levied by the U.S. It remains 'highly uncertain' which countries will be among the first to reach trade deals with the Trump administration, Lu said. 'From the apparel industry's perspective, a deal with leading Asian suppliers, including Vietnam, Bangladesh, India, and Cambodia, as well as CAFTA-DR members, would be the priority,' he added. The administration has indicated that talks with some of these nations, including India and Vietnam, have been ongoing. U.S. fashion firms are understandably itching for a fuller picture of what tariff rates they'll face in the next few months, never mind the coming years. In Lu's estimation, given the only two trade deals that have been worked out thus far, 'the chances that U.S. fashion companies would pay a lower tariff rate than they currently do are quite low.' China's 55-percent rate represents a massive burden for those importing from the country, and the recently announced trade deal with the United Kingdom leaves importers to face a 10-percent duty rate. According to Lu, 'it is more likely than not that the final 'reciprocal tariff' rate reached between the U.S. and a trading partner will be 10 percent or even higher.' Because the president is laser-focused on rebalancing trade, medium-sized major economies that could potentially import more American made products could be well-positioned to make more favorable deals with Washington—and sooner. Lu's assessment of the April USITC data uncovered a surprising downside—namely, for America's nearshore neighbors. 'It is interesting to note that the reciprocal tariff resulted in the most significant increase in tariff rates on U.S. apparel imports from CAFTA-DR members,' he said, referring to the Dominican Republic-Central America Free Trade Agreement, which encompasses countries including Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. While imports from these nations are presumably duty-free under the trade agreement, the average tariff rate paid on apparel imports hit 6.7 percent in April. Lu said that's because the short shipping distance between Central America and the U.S. actually worked to their disadvantage. 'Due to the short distance between the U.S. and CAFTA-DR members, there [was] limited flexibility for U.S. fashion companies to utilize the timing of shipping to avoid paying tariffs,' he said. Lu broke it down this way: 'Except for Mexico and China, U.S. apparel imports from all sources in April 2025 should face an additional 10-percent reciprocal tariff on top of the existing MFN tariff rate. However, the increase in tariff rates was actually much more modest (i.e., only about a 2-3 percentage point increase instead of 10 percent) for U.S. apparel imports from most Asian countries, as many imports were loaded onto vessels early enough to qualify for tariff exemption.' Only apparel imports from CAFTA-DR saw an increase in tariff rate as high as 6.7 percent in April, 'partially because, with transit times of days, not weeks, orders had to be placed after tariff announcements, forcing U.S. fashion companies to absorb the increased tariff rate,' Lu said. These countries also have a more limited ability to fulfill new orders on short notice, unlike their Asian counterparts. There's no evidence that Trump's tariff regime has benefited nearshore countries in the Western Hemisphere at all, Lu said. In fact, CAFTA-DR nations accounted for just 8.8 percent of clothing imports from January through April, down from 10.3 percent during the same period last year. Of course, all this could change with the release of May's data—and with the continual shakeups in sourcing that will most certainly result as the administration solidifies trade deals in the coming weeks. 'Overall, it remains uncertain how the U.S. apparel tariff rates will continue to evolve in response to Trump's shifting tariff policy,' Lu said. 'It appears that the trade volume and timing of shipment will be highly sensitive to short-term tariff rate changes, whereas adjusting sourcing bases and product structures will be a consideration for U.S. fashion companies in the medium- to long-term.'
Ya Biladi
10-06-2025
- Business
- Ya Biladi
US Trade Commission launches second review in Morocco phosphate fertilizer case
The U.S. International Trade Commission (USITC) has announced it will conduct a second court-ordered remand review in the countervailing duty case involving phosphate fertilizer imports from Morocco, reads a Federal Register document published on Tuesday. This follows an April 22, 2025 ruling by the U.S. Court of International Trade, which again asked the Commission to better justify its finding that Moroccan and Russian imports harmed the U.S. domestic industry. The case dates back to March 2021, when the USITC first ruled that phosphate fertilizers from Morocco and Russia materially injured American producers. Morocco's OCP Group challenged the decision in court. Although the Commission reaffirmed its findings in January 2024 after a first remand, the court has now ordered a second review, with no new evidence allowed. Only parties that participated in both the original investigation and the appeal, including OCP, may submit written comments. The deadline for submissions is June 20, 2025.
