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In the News: China Duty Cut, Sanctions Threat, Auto Tariffs

Friday, June 29, 2018
Sandler, Travis & Rosenberg Trade Report

China cuts tariffs on imports from Asian partners as trade war with U.S. looms

“The cuts are part of China’s commitments under the Asia-Pacific Trade Agreement signed by the members of a small regional trade bloc that China joined in 2001, before its entry to the World Trade Organisation. The six members agreed to the reduced tariffs in 2016 after a decade of negotiations.”

[South China Morning Post]

Trump administration threatens sanctions against countries that import Iranian oil

“The State Department official, who briefed reporters on condition of anonymity, said countries must stop imports of Iranian oil by [Nov. 4] or face so-called secondary sanctions for trading with Iran. No waivers are planned, the official said.”

[Los Angeles Times]

U.S. automakers say no to Trump’s car tariffs

“Unlike the steel and aluminum tariffs — where some companies, unions and lawmakers offered measured support for the president’s attention and protection — there is near-unanimous opposition among those same groups against the push to impose tariffs on cars.”

[Politico]

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