China announced retaliatory tariffs this month against Canada for its duties on Chinese-made electric vehicles and Chinese steel and aluminum products, saying the Canadian measures “seriously violate” World Trade Organization rules and are “discriminatory.” Beijing will impose a 100% tariff on Canadian rapeseed oil, oil cake and peas, and a 25% tariff on Canadian aquatic products and pork, according to an unofficial translation of a March 8 notice from the Customs Tariff Commission of China’s State Council. The duties take effect March 20.
The United States is interested in negotiating a new free trade agreement with India, Commerce Secretary Howard Lutnick told an Indian audience on March 8.
Canada opened a dispute at the World Trade Organization on March 5 to challenge the new U.S.-imposed 25% tariff on all non-energy goods and 10% tariff on energy goods from Canada, claiming that the measure violates the General Agreement on Tariffs and Trade "as well as the WTO's Trade Facilitation Agreement." Canada said that the U.S. measures "appear to be inconsistent with the United States' obligations" under GATT and TFA provisions.
President Donald Trump last week threatened to increase sanctions against Russia if it doesn't agree to a ceasefire in Ukraine and a peace deal. His comments came one day after Treasury Secretary Scott Bessent also threatened more sanctions against Moscow, including its energy sector.
President Donald Trump’s recently issued “America-first investment policy” memo suggests that the administration may focus potential trade negotiations with China around purchases of U.S. exports and tariff issues rather than national security issues, said Martin Chorzempa, a senior fellow with the Peterson Institute for International Economics.
The Senate Banking Committee voted 13-11 along party lines March 6 to approve Washington trade lawyer Jeffrey Kessler to be undersecretary of commerce for industry and security, sending his nomination to the full Senate for its consideration.
China and Canada announced new retaliatory trade restrictions against the U.S. -- and Mexico announced plans to soon release its own set of countermeasures -- after President Donald Trump's administration on March 4 increased tariffs on goods from all three countries. Industry associations said the counter-duties could damage a range of American export industries, including shippers of agricultural products, spirits and other commercial goods.
Beijing is studying ways to retaliate against an increase to 20% in U.S. tariffs to address fentanyl smuggling (see 2502270037), state-run news outlet Global Times reported March 3. China's countermeasures likely will include a combination of tariffs and non-tariff measures, the report said, with American agricultural and food products likely to be targeted.
A Federal Maritime Commission administrative law judge ordered Mediterranean Shipping Company (MSC) Feb. 25 to pay about $16 million in civil penalties for violating U.S. shipping laws.
Jamieson Greer, the former chief of staff to the U.S. trade representative during the first Trump administration, was confirmed by the Senate on Feb. 26, with a 56-43 vote. Five Democrats supported him, including both Michigan senators and Sens. John Fetterman of Pennsylvania, Sheldon Whitehouse of Rhode Island and John Hickenlooper of Colorado. Sen. Rand Paul, R-Ky., voted no.