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U.S. Treasury Secretary Scott Bessent told investors at a closed-door JPMorgan Chase summit Tuesday that the ongoing trade conflict between the United States and China is “unsustainable,” and indicated that both sides would need to find ways to de-escalate. In a speech the next day Bessent called for a "recentering" of the missions of the IMF and World Bank.
US Customs & Border Protection has published an FAQ page on the International Emergency Economic Powers Act (IEEPA) as it relates to tariffs.
April has seen enforcement actions on Chinese work gloves, South Korean Sea Salt, and most recently a petition based on evidence of modern slavery in the Brazilian coffee industry.
President Donald Trump asserted significant progress in trade negotiations, stating he has secured “200 deals” with foreign leaders, with details to be disclosed in the coming weeks. In an interview with TIME magazine, he emphasized his direct involvement: “Ultimately, I’ve made all the deals.” Trump highlighted ongoing discussions with China, claiming that President Xi Jinping had contacted him to initiate talks. However, China’s Foreign Ministry refuted this, stating, “China and the U.S. are NOT having any consultation or negotiation on #tariffs.”
As of April 25, 2025, seven lawsuits have been filed challenging President Trump’s imposition of tariffs under the International Emergency Economic Powers Act (IEEPA), a 1977 statute traditionally used for targeted economic sanctions.
The U.S. Department of Commerce announced the initiation of two separate national security investigations under Section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. § 1862).
The investigations will evaluate the impact of (1) processed critical minerals and their derivative products, and (2) imports of medium- and heavy-duty trucks and related parts, on the national security of the United States.
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