Trade Deal Updates – China Deal Signed; Talks w Canada Terminated
I’m on a little vacation this week, so there won’t be the normal Tuesday and Thursday Universal Cargo blog. Don’t worry. The Universal Cargo team is still here to take care of all your international shipping needs.
Before I disappear for the week, I’m dropping in a quick update for Universal Cargo blog readers to make sure you’re up on the latest on not wondering what’s happened to the blog this week. Still, this will be brief.
U.S. – China Trade Deal Signed
President Trump previously announced a deal had been made between the U.S. and China and was just awaiting approval and signing from himself and China’s President Xi Jinping. Secretary of Treasury Scott Bessent announced last week the deal had been signed. China confirmed.
It appears the deal is additional trade framework building off the negotiations that led to the tariff reduction/pause between the countries and have been continuing since. I would expect negotiations to continue for a series of deals between the countries.
Trump Announced Termination of Trade Talks with Canada
President Trump announced on Truth Social that in response to a Digital Service Tax from Canada on American technology companies, his administration is terminating trade talks with Canada. Over the next week, the administration will let Canada know what its new tariff will be to do business with the U.S., the president said.
Here’s what he wrote in the post:
We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country. They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period. Thank you for your attention to this matter!
