Tariff Talks: Expana’s Weekly Rundown, May 2, 2025

FULL RUNDOWN

On April 30, the US Senate voted on legislation which could have revoked US President Trump’s use of the International Emergency Economic Powers Act (IEEPA) to kickstart the administration’s tariff regime. However, VP Vance broke the 49-49 tie for a resolution that did garner bipartisan support. Officials from the US and China cannot agree on the whether talks between the two countries have occurred yet. The only hint of agreement came from a social media account affiliated with Chinese state media, cited Expana . For months before Trump’s 2025 tariffs were ever imposed, China had been diversifying trading partners to shift away from US products. Now, the US-China tariffs are seen by many as a trade embargo between the world’s biggest economies. Especially now, Chinese buyers are expected to continue cutting back purchases of US goods like soybeans and pork products. These effects may not be felt for months—and at that time necessary federal help to producers will be considered, according to the US Agriculture Secretary, Brooke Rollins. However, on April 29, Chinese officials waived tariffs on ethane administration hopes to open markets for US agimports from the US—part of a reportedly growing list of exemptions . While many US sectors are lobbying for similar exemptions, there is no news yet. Trade negotiations are ongoing between the US administration and countries like Japan and India where the American products. It’s not clear if this is the reported “de-escalation” of the trade dispute with China. However, this directive is still wholly unclear as it states that some tariffs imposed due to drug trafficking, for example, should not be “stacked” with tariffs imposed on sectors like steel and aluminum. Yet, the order also states that all imports "may still be subject to other applicable duties, taxes, fees, exactions, and charges." Still, the Trump administration is investigating imports of commodities like copper, timber, lumber, pharmaceuticals, and technology like semiconductors for potential industry-specific tariffs. And US 25% tariffs still exist for steel and aluminum imports, for automobiles, and for countries buying oil from Venezuela. Yet, on April 29, President Trump signed an executive order to offer US automakers relief when sourcing parts from abroad. Back on April 17, the US Trade Representative (USTR ) announced fees targeting Chinese-made ocean freight vessels