Mexico studies tariffs on billions of dollars of U.S. corn, soy

“Earlier this month, Mexico swiftly retaliated when Trump imposed metals tariffs, hitting dozens of American imports including steel, apples and pork. But it held back from the most lucrative class of U.S. farm products: grains, especially feed corn and soybeans, used to fatten Mexico’s cows, hogs and chickens.”


Russia will impose tariffs on U.S. goods in retaliatory measures

Economic Development Minister Maxim Oreshkin “said that additional tariffs will be applied to a range of U.S. imports, but he declined to immediately name them. He added that the tariffs will be applied to the U.S. goods that have domestic equivalents to avoid hurting the national economy.”

[Financial Post]

EU set to push for WTO reform to ease global trade tensions

“The draft conclusions see EU leaders calling on the European Commission, which oversees EU trade policy, to produce proposals with ‘like-minded partners’ that could improve the WTO’s functioning in ‘crucial areas’ and ensure a level playing field. Such areas would include new rules on subsidies, enforcement, negotiations and a different view of development.”


EU and Australia launch talks for a broad trade agreement

“The first formal round of talks between the respective sides' teams of negotiators will take place in Brussels from 2 to 6 July. … Bilateral trade in goods between the EU and Australia has risen steadily in recent years, reaching almost €48 billion last year. The sectors which make up the bulk of EU exports to Australia are transport equipment, machinery and appliances, chemicals, food, and services. Bilateral trade in services is around €28 billion. The agreement could increase trade in goods between the two partners by over a third.”

[European Commission]

CBP leads delegation to Thailand, discusses forced labor concerns in fishing industry

“The trip is part of increased efforts by CBP’s Office of Trade in fighting forced labor in global supply chains. With authorities provided by the Tariff Act of 1930 (19 U.S.C. § 1307) and strengthened by the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA), CBP can detain goods produced with forced labor by issuing withhold release orders at the ports of entry.”

[U.S. Customs and Border Protection]

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