US Trade Representative Jamieson Greer

After US-Canada trade talks collapsed, the United States imposed 50% tariffs on $20 billion worth of Canadian products. Canada retaliated by matching those tariffs dollar for dollar to protect its workers and businesses, escalating the trade conflict. The breakdown calls into question the future of a North American trade pact involving the U.S., Canada, and Mexico.

Small businesses are challenging the Trump administration's new tariffs under Section 301 of the Trade Act, arguing the tariffs were improperly justified and will harm their operations. Lawsuits were filed by companies including Burlap & Barrel, Collective Horology, and Learning Resources, which previously contested earlier tariff regimes.

The Trump administration introduced new permanent tariffs on 59 countries and the European Union to replace those struck down by the Supreme Court, based on forced labor investigations under Section 301 of the Trade Act of 1974. The tariffs, set at 10% or 12.5% depending on a country's forced labor policies, include exemptions for certain goods and follow ongoing trade investigations.

The US is pressuring Germany to pay more for pharmaceuticals, while some US biotech companies consider moving trials outside the country due to FDA upheaval. The Trump administration is pushing for other countries to pay more for medications as the US pays less. This move may lead to delays in regulatory reviews and changes in traditional pathways for bringing new medicines to market.