World Trade Organization Director-General Ngozi Okonjo-Iweala told former U.S. Trade Representative Michael Froman that she had a meeting with USTR Jamieson Greer "yesterday that was a little bit comforting," but that the current 10% U.S. tariff on most countries, plus 25% tariffs on cars, steel and aluminum and some products from Canada and Mexico, and 145% tariffs on Chinese imports, if it lasts, will result in global merchandise trade falling by 0.2%. Before the actions, the WTO forecast a 2.7% growth in goods trade this year.
Secretary of State Marco Rubio told Trinidad and Tobago Prime Minister Stuart Young that he will work very closely with Young's administration "to find a solution that achieves U.S. objectives regarding Venezuela without harming Trinidad and Tobago."
President Donald Trump criticized business officials who have said his tariffs actions are damaging, bragged about countries and executives asking for breaks, and made a list of non-tariff cheating he wants countries to end, all on social media over the weekend.
Vice President JD Vance issued a statement that said he and Indian Prime Minister Narendra Modi "welcomed significant progress in the negotiations for a U.S.-India Bilateral Trade Agreement (BTA) and formally announced the finalization of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about our shared economic priorities."
President Donald Trump described his phone call with Canadian Prime Minister Mark Carney as "extremely productive," in a social media post, adding "we agree on many things, and will be meeting immediately after Canada’s upcoming Election to work on elements of Politics, Business, and all other factors, that will end up being great for both the United States of America and Canada. Thank you for your attention to this matter!"
Exporters who send their goods in ocean freight testified to an interagency panel that the Office of the U.S. Trade Representative's proposal to require a segment of exports to travel on U.S.-flagged, and eventually, U.S.-built ships (see 2502240058) will harm their business, or even make transport so expensive that they will be priced out of sales altogether.
Two Democrats and two Republicans in the Senate asked the administration to press Canada on changing how it administers tariff rate quotas for U.S. dairy exports as it approaches a renegotiation.
The U.S. government is considering requiring a small proportion of exported goods, both containerized and not, and including liquified natural gas, to be carried on U.S.-flagged ships by U.S. operators, with the proportion climbing over time, and, eventually, with U.S.-built ships also required.
After losing a USMCA dispute panel ruling on its measures to phase out genetically modified corn and crops treated with the herbicide glyphosate, Mexico announced this week it is repealing the decrees that addressed those issues.
Canada announced then later rescinded retaliatory tariffs against the U.S. after both sides reached an agreement to delay new tariffs this week.