House Select Committee on China Chairman John Moolenaar, R-Mich., has subpoenaed the CEOs of JPMorgan Chase & Co. and Bank of America for information on their roles in the initial public offering of Chinese electric vehicle battery producer Contemporary Amperex Technology Co. Ltd. (CATL), the panel announced July 24. The banks were told to comply by Aug. 8.
The White House said in a fact sheet that Japan will immediately expand import quotas on rice, allowing for 75% more U.S. rice sales to that country's buyers.
Philippines President Ferdinand "Bongbong" Marcos told reporters in Manila that the Philippines didn't agree to drop tariffs to zero on all U.S. goods, as the U.S. claimed. He said that the Philippines agreed to eliminate tariffs in particular markets the U.S. really cares about, like automobiles.
The U.S. should impose new export controls on the subsystems of semiconductor manufacturing equipment and double down on enforcement for exports of advanced AI chips, including by potentially mandating that chip exporters use location-tracking features, the White House said in its new AI action plan. While the plan calls for tighter controls against China and other “strategic adversaries,” it also said the U.S. should strike deals with other countries to export American AI systems around the world.
In a joint statement, the U.S. and Indonesia said Indonesia will accept FDA certificates and prior marketing authorization for medical devices and pharmaceuticals, will exempt U.S. exports of cosmetics and medical devices "from certain requirements," and will exempt U.S. companies from local content requirements.
Treasury Secretary Scott Bessent suggested the White House may be in favor of a bill that would authorize new sanctions and tariffs against Russia’s supporters, and he urged the EU to put in place similar measures.
House Foreign Affairs Committee ranking member Rep. Gregory Meeks, D-N.Y., announced July 17 that he has filed a discharge petition to force House floor consideration of his bill to increase sanctions and export controls on Russia over its invasion of Ukraine.
The president of Indonesia confirmed to reporters in Jakarta that he agreed to 19% tariffs, in exchange for buying more wheat, soybeans, fuel and Boeing aircraft.
The Census Bureau emailed tips on how to address the most frequent message generated this month in the Automated Export System.
The U.S. Chamber of Commerce and the American Chamber of Commerce in Brazil both are urging the Brazilian government and the U.S. government to negotiate so that 50% tariffs on Brazilian goods don't come to pass.