Latest news with #OfficeoftheU.S.TradeRepresentative
Yahoo
14 hours ago
- Business
- Yahoo
White House extends exclusions for Section 301 China tariffs
This story was originally published on Supply Chain Dive. To receive daily news and insights, subscribe to our free daily Supply Chain Dive newsletter. The Office of the U.S. Trade Representative extended Section 301 tariff exclusions for some products from China to Aug. 31, according to a notice filed last week. The exclusions, which were originally set to expire May 31, pertain to Section 301 tariffs that target electric vehicles, batteries, critical minerals, semiconductors and solar cells. Such exemptions could be further extended or modified, per the notice. The duties were originally introduced in 2018 under the first Trump administration. Last year, the Biden administration opted to maintain the levies while adding and increasing some others following a four-year review by then USTR Katherine Tai. The final tariff structure covered thousands of items across 14 product categories. Several of the tariff increases went into effect in September 2024, including a 100% duty on EVs, while others were slated to begin at the start of 2025 and 2026. Upon announcing the new tariffs, the Biden administration opened an exclusion process to alleviate duty burden for some manufacturing equipment used in domestic production. Some types of solar manufacturing equipment, industrial robots, machinery for filtering water and some printing machinery are among the included types. 'The limited scope of the exclusion process strikes a balance between mitigating U.S. companies' costs in expanding domestic production capacity while maintaining the appropriate amount of leverage with China,' said a September Federal Register notice from the Office of the USTR. The exclusions and their related tariffs are separate from many of the duties President Donald Trump has rolled out since returning to office for a second term. Therefore, they would not be impacted by a U.S. Court of International Trade injunction filed last week, which is currently paused for appeal. Recommended Reading Biden-Harris administration opens tariff exclusion process
Straits Times
2 days ago
- Business
- Straits Times
UAE seeks U.S. trade deal to roll back Trump's steel and aluminium tariffs
The United States and the United Arab Emirates have agreed to start negotiations for a potential bilateral trade agreement that could ease tariffs on the Gulf state's steel and aluminium industry, according to four people familiar with the matter. Emirati officials discussed the possibility of a trade agreement with U.S. counterparts during President Donald Trump's two-day visit to Abu Dhabi last month, the sources said. The Office of the U.S. Trade Representative did not respond to a request for comment. Neither did Emirati officials. Like other nations, the UAE has been hit by Trump's 10% baseline tariff on its exports to the United States. But its steel and aluminium products have also been hit by a 25% tariff that the Trump administration is now doubling to 50%. While the UAE is a major oil producer, its steel and aluminium products are significant non-oil exports. In 2024, the UAE was the second-largest steel and aluminium exporter to the U.S., accounting for 8% of total U.S. consumption, data shows. In Abu Dhabi, Emirati officials highlighted to U.S. counterparts comprehensive trade deals that it had signed with other countries over the past three years, the sources said. The UAE was capable of moving quickly on trade talks, Emirati officials told their U.S. counterparts, they said. The Gulf state has signed bilateral trade deals, known as Comprehensive Economic Partnership Agreements, with several countries since 2022, including India, Turkey and Australia. The pact with India was negotiated in just 88 days. The sources said that U.S. officials had responded positively, although it was unclear when talks would start. Two of the sources said Washington was likely to negotiate a limited deal that would fall short of a comprehensive free trade pact. However, they said any agreement, if reached, would likely still be called a Comprehensive Economic Partnership Agreement (CEPA), the same branding as the UAE's other trade deals. The UAE is Washington's biggest trade partner in the Middle East, according to the Gulf state's foreign ministry. Bilateral trade in 2024 was valued at $34.4 billion, according to U.S. trade data, with the U.S. enjoying a $19.4 billion surplus. The Gulf state, which is reliant on the U.S. security umbrella, has pledged to invest $1.4 trillion in the U.S. over the next decade. Its sovereign wealth funds, including Abu Dhabi's $330-billion Mubadala, are already big U.S. investors, and Trump and his family have business interests in the UAE. The UAE is influential in the region and hosts American soldiers on its bases. It is also negotiating a free trade agreement with the European Union. Gulf states Oman and Bahrain have bilateral free trade agreements with the U.S. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
2 days ago
- Business
- Yahoo
Trump admin pushes for final trade offers as tariff pause nears end
WASHINGTON (NewsNation) — The White House on Wednesday is expecting final offers from its trade partners as President Donald Trump's pause on reciprocal tariffs is set to expire in the coming weeks. The Office of the U.S. Trade Representative sent a 'friendly reminder' to countries Tuesday urging them to submit their 'best offers,' in a signal that the administration is preparing to resume global tariffs first imposed on so-called 'Liberation Day,' then paused for 90 days shortly afterward. Trump admin rescinds emergency abortion guidance 'This letter was simply to remind these countries that the deadline is approaching and the president expects good deals, and we are on track for that,' said White House press secretary Karoline Leavitt. Trump weighed in on U.S.-China trade talks on social media early Wednesday morning. 'I like President Xi of China, always have, and always will, but he is very tough, and extremely hard to make a deal with,' he wrote. The White House said a call between Trump and Xi is expected sometime this week, though no hard date has been set. Meanwhile, the European Union, which says it did not receive the administration's letter, is set to meet with U.S. trade representatives Wednesday in Paris. The EU has warned it may speed up its retaliatory measures if Trump follows through with his tariff threats. Trump announced at a rally in Pennsylvania last month that the U.S. would double tariffs on steel and aluminum, increasing them from 25% to 50%, starting today. WH tapping local, state, fed databases for immigrant info: Report The decision was met with cheers from steelworkers but has some concerned that manufacturers will pass higher costs on to consumers. Experts estimate cars could cost up to $4,000 more due to pricier steel, and aluminum cans for soda, beer and canned food may also become more expensive. The White House has defended the move and said the tariffs are crucial to national security and the U.S. economy. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
2 days ago
- Business
- Yahoo
UAE seeks U.S. trade deal to roll back Trump's steel and aluminium tariffs
(Adds byline) By Alexander Cornwell (Reuters) -The United States and the United Arab Emirates have agreed to start negotiations for a potential bilateral trade agreement that could ease tariffs on the Gulf state's steel and aluminium industry, according to four people familiar with the matter. Emirati officials discussed the possibility of a trade agreement with U.S. counterparts during President Donald Trump's two-day visit to Abu Dhabi last month, the sources said. The Office of the U.S. Trade Representative did not respond to a request for comment. Neither did Emirati officials. Like other nations, the UAE has been hit by Trump's 10% baseline tariff on its exports to the United States. But its steel and aluminium products have also been hit by a 25% tariff that the Trump administration is now doubling to 50%. While the UAE is a major oil producer, its steel and aluminium products are significant non-oil exports. In 2024, the UAE was the second-largest steel and aluminium exporter to the U.S., accounting for 8% of total U.S. consumption, data shows. In Abu Dhabi, Emirati officials highlighted to U.S. counterparts comprehensive trade deals that it had signed with other countries over the past three years, the sources said. The UAE was capable of moving quickly on trade talks, Emirati officials told their U.S. counterparts, they said. The Gulf state has signed bilateral trade deals, known as Comprehensive Economic Partnership Agreements, with several countries since 2022, including India, Turkey and Australia. The pact with India was negotiated in just 88 days. The sources said that U.S. officials had responded positively, although it was unclear when talks would start. Two of the sources said Washington was likely to negotiate a limited deal that would fall short of a comprehensive free trade pact. However, they said any agreement, if reached, would likely still be called a Comprehensive Economic Partnership Agreement (CEPA), the same branding as the UAE's other trade deals. The UAE is Washington's biggest trade partner in the Middle East, according to the Gulf state's foreign ministry. Bilateral trade in 2024 was valued at $34.4 billion, according to U.S. trade data, with the U.S. enjoying a $19.4 billion surplus. The Gulf state, which is reliant on the U.S. security umbrella, has pledged to invest $1.4 trillion in the U.S. over the next decade. Its sovereign wealth funds, including Abu Dhabi's $330-billion Mubadala, are already big U.S. investors, and Trump and his family have business interests in the UAE. The UAE is influential in the region and hosts American soldiers on its bases. It is also negotiating a free trade agreement with the European Union. Gulf states Oman and Bahrain have bilateral free trade agreements with the U.S.
Business Recorder
2 days ago
- Business
- Business Recorder
UAE seeks US trade deal to roll back Trump's steel and aluminium tariffs
The United States and the United Arab Emirates have agreed to start negotiations for a potential bilateral trade agreement that could ease tariffs on the Gulf state's steel and aluminium industry, according to four people familiar with the matter. Emirati officials discussed the possibility of a trade agreement with U.S. counterparts during President Donald Trump's two-day visit to Abu Dhabi last month, the sources said. The Office of the U.S. Trade Representative did not respond to a request for comment. Neither did Emirati officials. Like other nations, the UAE has been hit by Trump's 10% baseline tariff on its exports to the United States. But its steel and aluminium products have also been hit by a 25% tariff that the Trump administration is now doubling to 50%. While the UAE is a major oil producer, its steel and aluminium products are significant non-oil exports. In 2024, the UAE was the second-largest steel and aluminium exporter to the U.S., accounting for 8% of total U.S. consumption, data shows. In Abu Dhabi, Emirati officials highlighted to U.S. counterparts comprehensive trade deals that it had signed with other countries over the past three years, the sources said. Aluminium premiums for US buyers soars after Trump doubles tariffs The UAE was capable of moving quickly on trade talks, Emirati officials told their U.S. counterparts, they said. The Gulf state has signed bilateral trade deals, known as Comprehensive Economic Partnership Agreements, with several countries since 2022, including India, Turkey and Australia. The pact with India was negotiated in just 88 days. The sources said that U.S. officials had responded positively, although it was unclear when talks would start. Two of the sources said Washington was likely to negotiate a limited deal that would fall short of a comprehensive free trade pact. However, they said any agreement, if reached, would likely still be called a Comprehensive Economic Partnership Agreement (CEPA), the same branding as the UAE's other trade deals. The UAE is Washington's biggest trade partner in the Middle East, according to the Gulf state's foreign ministry. Bilateral trade in 2024 was valued at $34.4 billion, according to U.S. trade data, with the U.S. enjoying a $19.4 billion surplus. The Gulf state, which is reliant on the U.S. security umbrella, has pledged to invest $1.4 trillion in the U.S. over the next decade. Its sovereign wealth funds, including Abu Dhabi's $330-billion Mubadala, are already big U.S. investors, and Trump and his family have business interests in the UAE. The UAE is influential in the region and hosts American soldiers on its bases. It is also negotiating a free trade agreement with the European Union. Gulf states Oman and Bahrain have bilateral free trade agreements with the U.S.
