Trump targeting trade loopholes risks 70 percent of China exports to U.S.
“If Trump is successful in targeting transshipments via higher levies or supply chain requirements, it would threaten 70% of China’s exports to the US and more than 2.1% of the Asian country’s gross domestic product, the analysts found. There’s a risk of additional economic damage if the restrictions weigh on countries’ desire to do business with China, they said.”
[Bloomberg]
Many Canadian exports can avoid Trump tariffs if CUSMA-compliant. Here's what that means
“Trade policy experts say the vast majority of Canadian exports can qualify for this exemption, and that's leading to a stampede of companies rushing to do the paperwork to get their products deemed compliant.”
[CBC]
How Europe’s ‘trade bazooka’ could be a last resort against Trump’s tariffs
“The measures could see the EU restrict U.S. suppliers’ access to the EU market, excluding them from participation in public tenders in the bloc, as well as putting export and import restrictions on goods and services, and limits on foreign direct investment in the region.”
[CNBC]
Canada unveils major industrial strategy to reinforce steel sector amid U.S. tariffs
“Canada will reduce steel import quotas for non-free trade agreement (non-FTA) countries to 50% of 2024 levels. Imports exceeding that threshold will face a 50% tariff. FTA partners outside the U.S. can maintain 100% of 2024 import levels but will also be subject to a 50% overage tariff. U.S. imports remain governed by existing USMCA rules. In addition, a 25% tariff will be applied to all non-U.S. steel imports that contain steel ‘melted and poured in China,’ effective by the end of July.”
[Business Upturn]
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