Latest news with #NonTariffBarriers
National Post
01-08-2025
- Business
- National Post
Trump says he hasn't 'spoken to Canada' as Friday's deadline for 35% tariffs approaches
Article content 'Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many,' Trump said. 'We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer.' Article content Mexico already recognizes a Palestinian state. Article content White House Press Secretary Karoline Leavitt did not rule out further extensions and said there was still time for countries to negotiate ahead of the midnight deadline. Article content 'I do know that other foreign leaders around the world have reached out,' she said. Article content While Trump continued to claim in posts on social media that tariffs are making 'America GREAT & RICH Again,' the president's main tool for realigning global trade faced some sharp questions from federal appellate judges in court Thursday morning. Article content The Trump administration's lawyer argued in the U.S. Court of Appeals for the Federal Circuit that there are still checks and balances on the president's powers and he has the authority to use a national security statute to impose duties — despite the fact that the word 'tariff' is found nowhere in the International Economic Emergency Powers Act of 1977. Article content The act, usually referred to by the acronym IEEPA, gives the U.S. president authority to control economic transactions after declaring an emergency. No previous president had ever used it for tariffs and the U.S. Constitution reserves power over taxes and tariffs for Congress. Article content Members of the 11-judge panel on Thursday repeatedly questioned the Trump's administration's justifications for using IEEPA to implement the so-called 'Liberation Day' and fentanyl-related tariffs Article content 'If the president says there's a problem with our military readiness and he puts a 20 per cent tax on coffee, that doesn't seem to necessarily deal with (it)' said Chief Circuit Judge Kimberly Moore. Article content Thomas Berry, with the Washington-based Cato Institute, said in a media statement that 'based on the tenor and questions of the arguments, it appears that the challengers have the better odds of prevailing.' Article content The Cato Institute, which opposes the IEEPA tariffs, provided the hearing with an amicus brief — a legal submission from a group that's not party to the action. Article content
Zawya
31-07-2025
- Business
- Zawya
Ruto, Museveni deplore trade barriers in East Africa
Trade restrictions among East African Community partner states are hurting economic progress in the region, Kenyan President William Ruto and Uganda's Yoweri Museveni have warned. At a joint press statement on Wednesday at the State House Nairobi, the two leaders expressed concern over reluctance by partners to open up markets. The two leaders met in Nairobi to discuss various issues, including trade, security, and overall regional peace. The meeting came amid a rise of non-tariff barriers in a region where intra-trade is low. The leaders discussed 'persistent non-tariff barriers that hinder the flow of goods and frustrate the objectives of regional integration under the EAC framework.'They did not name the culprits, but the meeting came as Tanzania roiled the regional Common Market by banning foreigners from engaging in 'small businesses.'In a Special Supplement on July 28, Dodoma argued it was shielding locals from unfair competition from foreigners. The private sector condemned the move. According to the EAC Secretariat, intra-EAC trade has been rising steadily, albeit struggling with NTBs. In 2024, the EAC's total trade with the rest of the world grew by 14.17 percent to $124.9 billion, from $109.4 billion. Intra-trade increased by 9.35 percent, reaching $15.2 billion, or 12.17 percent of the total trade volume. Yet experts at the East African Business Council say this could be as high as 60 percent were member states intent on implementing decisions they make around the common external tariff and non-tariff barriers. The EAC Council of Ministers says that addressing common external tariff (CET) challenges and eliminating NTBs would unlock $63.4 billion in regional trade. According to President Ruto is the chair of the EAC Heads of State Summit. He said that a Joint Monitoring Committee (JMC) will hold its mid-term review in October, which will be crucial on the matters which affects trade across the borders. JMC is the formal joint technical committee meant to respond to issues affecting the two sides. Ruto and Museveni signed agreement on eight areas: trade, energy, mining, tourism, agriculture and animal industry, fisheries and aquaculture, investment promotion and transport. Both reiterated the need for regional peace and stability.'We reaffirmed our position that security is essential to sustainable development and commended ongoing regional peace-building initiatives. We further agreed to collaborate closely in conflict resolution efforts, advocating inclusive approaches, supported by both regional and international frameworks,' their joint communique said.
