Cross Border Trade Updates
May 19, 2025
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- U.S. Tariff Negotiations
- On 18 May, Treasury Secretary Scott Bessent said that tariff rates will soon return to “reciprocal” levels if countries do not reach a trade agreements during the 90-day pause.
- On 16 May, President Trump said that the United States will impose higher tariff rates on many of its trading partners, rather than striking deals with all of them. Please see below for the latest news on trade negotiations between the United States and other countries seeking to reduce tariffs on their goods.
- EU: On 16 May, the EU and the United States began trade talks.
- Korea: On 16 May, South Korea’s Minister of Trade and Industry said that Korea would try to reach a trade deal with the United States by the July deadline.
- Asia Pacific: On 16 May, during an Asia-Pacific Economic Trade Cooperation trade ministerial in South Korea. U.S. Trade Representative Jamieson Greet met with various trade ministers to discuss President Trump’s reciprocal tariffs.
- India: On 15 May, President Trump said that India offered a trade deal with “no tariffs” for American goods.
- UK: On 15 May, UK officials said that lower U.S. tariffs on British steel and aluminum are unlikely to take effect for weeks.
- Thailand: On 13 May, Thailand submitted a range of proposals to the United States on how it plans to boost imports and promote investments.
- Japan: Japan’s top trade negotiator is possibly traveling to Washington, D.C. this week for a third round of trade talks with the United States.
- Legal Actions Against President Trump’s Tariffs
- On 19 May, the Justice Department (DOJ) argued that states that are suing over IEEPA tariffs have shown direct “harm” needed to justify a court order blocking collection of the duties, while also seeking to shore up its broader legal defense of the policy ahead of a 21 May hearing in the Court of International Trade (CIT).
- On 15 May, CIT denied the DOJ’s request to stay on of the four suits filed there over IEEPA tariffs.
- The DOJ asked CIT to stay Princess Awesome, LLC, et. al., suit against President Trump which stated that President Trump’s tariffs are unlawful and unconstitutional. The motion was denied without further explanation.
- On 13 May, a hearing was held at CIT where five small businesses asked to halt President Trump’s tariffs arguing that he overstepped his powers by declaring a national emergency to impose the tariffs.
- Actions at the WTO
- On 15 May, the United States declared that Japan and the United Kingdom are improperly imposing to hit U.S. goods with tariffs in response to U.S. increasing duties on steel and aluminum.
- The statement came after India, Japan, and the United Kingdom proposed increasing tariffs on certain U.S. products equivalent to U.S. tariffs on steel and aluminum.
