Cross Border Trade Updates
June 2, 2025
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- Tariffs on Steel and Aluminum
- U.S.-China Trade
- China: Also on Friday, President Trump accused China of violating its two-week old tariff truce with the United States. President Trump’s comments came a day later after U.S. Treasury Secretary Scott Bessent said that trade talks with China were “a bit stalled”.
- On 2 June, China said that President Trump's accusations that Beijing had violated the consensus reached in Geneva trade talks were "groundless", and promised to take forceful measures to safeguard its interests.
- U.S.-UK Trade
- Last Thursday, 29 May, the UK indicated it will hold talks with the United States this week to try to speed up implementation of a trade pact between the two countries. As the U.S.-UK trade deal has not been implemented yet, it is unclear how it will affect PMMI members.
- CIT Ruling on Trump IEEPA Tariffs
- Last Wednesday, 28 May, the U.S. Court of International Trade (CIT) issued a ruling blocking President Trump from imposing tariff actions under the International Economic Emergency Powers Act (IEEPA). The unanimous ruling from the CIT notes that IEEPA does not grant the president “unbound authority” to impose tariffs on almost every trading partner. The judges provided a 10-day period in which the government must implement the operational changes to halt the collection of tariffs.
- On 29 May, the U.S. Court of Appeals for the Federal Circuit (CAFC) granted a short-term administrative stay of the CIT’s ruling. The administrative stay was issued one day after the CIT ruled that President Trump exceeded his authority by imposing duties under the International Emergency Economic Powers Act (IEEPA). IEEPA tariffs will remain in place through at least June 9.
- In addition to the CIT’s ruling, a federal court in Washington, D.C. found that the tariffs exceeded the president’s authority under IPPEA which differs from CIT’s ruling that the tariffs must be more narrowly focused. The ruling stopped the Trump Administration from collecting tariffs from two small businesses that sued whereas CIT’s ruling blocked the tariffs that had been challenged broadly.
- On 2 June, the Trump Administration asked a federal appeals court to block the order.
- U.S. Tariff Negotiations
- 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 30 May, European Union Trade Commissioner Maros Sefcovic said that he had held another call with U.S. Commerce Secretary Howard Lutnick, as the EU and the United States continue efforts to reach a deal on tariffs. The EU is prepared to release countermeasures if negotiations fail.
- India: On 30 May, it was reported that India will urge the US to drop all the tariffs imposed on April 2 as it adopts a tougher negotiating stance in the wake of legal challenges to President Donald Trump’s signature trade policy.
- Japan: On 29 May, Japan’s top trade negotiator Ryosei Akazawa is headed to Washington for his fourth round of trade negotiations with the US, signaling that talks will continue as expected despite a US court ruling that declared the tariffs illegal.
- Canada: On 28 May, Canada’s Prime Minister Mark Carney said he aims for the U.S. and Canada to agree on a new bilateral pact in the coming months that removes hefty tariffs.
- Switzerland: On 28 May, the Swiss government said it wants to resolve customs issues with the United States and has agreed to draft negotiating mandate on trade and economic issues.
