A bill that would sanction Russia and its supporters if Moscow rejects peace talks with Ukraine had gained the support of about 80 senators, or four-fifths of the Senate, as of May 22.
Cecilia Malmstrom, a former top European Commission trade official, said the EU is "painfully aware that the transatlantic relationship as we used to know it has been severely damaged."
The U.S. is continuing to push Malaysia to strengthen its guardrails around sensitive American technologies at risk of being diverted to China, a top Malaysian trade official said this week. He also acknowledged that Malaysia and other Asian countries could soon be pressured to choose between either partnering economically with Washington or Beijing.
Trade groups representing three strong exporting sectors -- soybeans, semiconductors and medical devices -- and an expert in critical minerals trade all told the Senate Finance Committee that higher tariffs on all countries and products, and constantly changing tariff policy, aren't good for American competitiveness.
Washington state punches above its weight in goods exports, and exported $57.8 billion worth of goods in 2024, including $40.7 billion in manufactured products. Some 45% of those manufactured exports are Boeing planes and aerospace parts.
The U.K. should be wary of language in the recently announced trade framework with the U.S. (see 2505090006) that calls on Britain to comply with certain supply chain security requirements, which they said the U.S. could use to pressure the U.K. in its trading relationship with China, the U.K. Parliament heard from witnesses this week.
The Trump administration has a chance to create a “simpler, stronger” version of the soon-to-be-repealed AI diffusion rule (see 2505130018), including one that maintains strict export controls on adversaries while imposing few or no controls on close allies, researchers said this month.
President Donald Trump touted his plan to get foreign health purchasers to pay more for pharmaceuticals, and U.S. consumers to pay less, as he signed an executive order seeking to equalize those prices.
The U.S. and China agreed to temporarily drop certain tariffs, during negotiations in Switzerland May 10-11, and plan to continue talks through a new trade dialogue mechanism, both countries said.
The 10% tariff on the first 100,000 autos exported annually from the U.K. will be "all-in," according to the Office of the U.S. Trade Representative. CBP couldn't clarify whether that would be done by removing most favored nation duties on U.K. autos and then applying a 10% tariff rate, or whether the additional tariff rate for in-quota autos would be 7.5%.