U.S. Trade Representative Jamieson Greer declined to mention specific products he'd like to facilitate importing from China following talks between President Donald Trump and Chinese President Xi Jinping, but expanded the scope beyond what both he and Treasury Secretary Scott Bessent had previously said.
China's purchases of American cotton declined 87% last year, wrote Rep. Jodey Arrington, R-Texas, as he and 11 other House of Representatives members from cotton-growing states asked the U.S. trade representative to press China to eliminate its 10% tariff on U.S. cotton and make purchase promises, as it did in the phase one deal made in Trump's first term.
U.S. Trade Representative Jamieson Greer said the administration will solicit comments on which types of "non-sensitive goods" should get tariff relief, so that trade can be facilitated between the U.S. and China.
Rep. Austin Scott, R-Ga., and 78 other representatives asked U.S. Trade Representative Jamieson Greer to "evaluate trade actions that can safeguard U.S. growers from unfair pressures from Mexico" as it reviews the USMCA.
Treasury Secretary Scott Bessent said that the Board of Trade that the U.S. has discussed establishing is aimed at identifying $30 billion worth of Chinese imports of "things that the U.S. doesn’t want to make that we’re never going to reshore," and removing the tariffs from those goods. Bessent gave examples of fireworks "or very low-end consumer goods."
The chief executive and chairman of the American Iron and Steel Institute said that trade policy changes have already undermined Mexico's steel producers, but that it's critical that USMCA be rewritten so that only steel melted and poured in Mexico, Canada or the U.S. be considered originating.
Former U.S. trade representative Katherine Tai told reporters May 11 that she’s concerned the U.S. and China will neglect holding substantial conversations about their trade and economic relationship in talks between President Donald Trump and Chinese President Xi Jinping scheduled to begin later in the week.
The U.S. Court of Appeals for the Federal Circuit granted the government’s request for an immediate stay of the Court of International Trade's recent judgment striking down Section 122 tariffs (The State of Oregon v. Donald J. Trump, Fed. Cir. # 26-1804; Burlap and Barrel v. Donald J. Trump, Fed. Cir. # 26-1805).
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
On the eve of President Donald Trump’s May 13-15 trip to Beijing, three veteran trade experts said the U.S. is moving toward a more “managed” approach to trade with China, as the administration prepares to raise a proposed U.S.-China Board of Trade during the visit.