Trade Update – May 27, 2025

Featured Headlines

UK Ready to Do Business with California
CalChamber, May 23, 2025

General terms for the United States of America and the United Kingdom of Great Britain and Northern Ireland Economic Prosperity Deal
United States Trade Representative, May 8, 2025

EU trade negotiator says calls with US officials were ‘good’ after Trump extends tariff deadline
The Associated Press, May 26, 2025

Trump threatens tariffs on Apple, European Union in trade war escalation
The Washington Post, May 23, 2025

EU, Britain Go Ahead with New Russia Sanctions Without Waiting for Trump
GCaptain, May 20, 2025

Britain agrees trade and defense reset with European Union
USA Today, May 19, 2025

UK-EU Summit 2025 – Joint Statement
UK.GOV, May 19, 2025

CalChamber Companies in the News

• Chile taps Rio Tinto for second major lithium project
  Reuters, May 23, 2025
• Disney Is Opening Its First Theme Park in the Middle East, Here’s Everything You Should Know
  Condé Nast Traveler, May 17, 2025

Trade Policy

White House

World Trade Week, 2025
The White House, May 24, 2025

Fact Sheet: President Donald J. Trump Secures $200 Billion in New U.S.-UAE Deals and Accelerates Previously Committed $1.4 Trillion UAE Investment
The White House, May 15, 2025

Fact Sheet: President Donald J. Trump Secures Historic $1.2 Trillion Economic Commitment in Qatar
The White House, May 14, 2025

U.S. Department of Commerce

• 10% tariffs generate $30B monthly without price increases: Commerce secretary
  News Nation, May 22, 2025
• Record-Breaking 11th SelectUSA Investment Summit Concludes
  U.S. Department of Commerce, May 20, 2025
• Tech Hubs Program Fact Sheet
  U.S. Department of Commerce, May 16, 2025
• Statement from U.S. Secretary of Commerce Howard Lutnick on the Tech Hubs Program
  U.S. Department of Commerce, May 16, 2025
• UAE/US Framework on Advanced Technology Cooperation
  U.S. Department of Commerce, May 15, 2025

U.S. Trade Representative

Historic U.S.-UK Trade Deal Draws Praise
United States Trade Representative, May 14, 2025

• U.S. calls for resolution of non-tariff barrier issues in latest trade consultation with S. Korea: sources
  Yonhap News, May 25, 2025
• USTR Seeks Comments Regarding Foreign Nations Freeloading on American-Financed Innovation
  United States Trade Representative, May 23, 2025
• USTR starts collecting comments on cases of suppressing pharmaceutical prices in foreign countries
  Yonhap News, May 23, 2025

U.S. Department of Treasury

• Scott Bessent Says US Will ‘Continue Trading With China’ While Strategically Reshoring Semiconductors, Steel, And Pharmaceuticals
  Bloomberg, May 20, 2025
  

U.S. Department of Agriculture

Celebrating World Trade Month: The Trump Administration’s Approach to Expanding Exports and Supporting Rural Prosperity
USDA Foreign Agricultural Service, May 23, 2025

• Exclusive-U.S. farm agency cancels food aid for children in poor countries
  Reuters, May 22, 2025

Export – Import Bank

• Perpetua submits application for up to $2 billion loan to US EXIM for antimony project
  Reuters, May 23, 2025

World Trade Organization

• Members consider China’s request for panel to examine Canadian surtax measures
  WTO, May 23, 2025
• The Netherlands gives CHF 1.3 million to strengthen STDF projects for food safety, trade
  WTO, May 23, 2025
• DG Okonjo-Iweala: MC14 must deliver outcomes on WTO reform
  WTO, May 21, 2025

Trade Agreements/ Cooperation

South Africa presses US on renewing AGOA trade pact
Yahoo News, May 23, 2025

• Indonesian president and Chinese premier meet to discuss expanding trade during US trade war
  The Associated Press, May 25, 2025
• Pakistan, Afghanistan move towards ‘restoring ties’ in talks with China
  Al Jazeera, May 23, 2025
• Exclusive-India may let US, foreign firms bid for government contracts, sources say
  Reuters, May 23, 2025
• U.S., China hold first call since Geneva meeting, signaling progress in trade talks
  CNBC, May 23, 2025
• Argentina set to expand beef offal exports to China amid shifting trade dynamics
  Invezz, May 23, 2025
• China strengthens ties in Latin America with loans, cooperative deals
  UPI, May 22, 2025
• Trump: India Has Offered US a Trade Deal With No Tariffs
  GCaptain, May 20, 2025
• South Korea planning more serious engagement with the US, says Korea’s Trade and Industry Minister -Video
  CNBC, May 16, 2025

California

Travel Outlook: California Tourism Projected to Decline Following Strong 2024
CalChamber May 21, 2025

• California attorney general suggests potential lawsuit over Trump’s Apple tariff threats
  POLITICO, May 23, 2025
• Inland Empire lost trade and transportation jobs, but it’s too early to blame tariffs
  CalMatters May 21, 2025
• Port of LA reports volume down 30% in first week of May
  American Journal of Transportation, May 21, 2025
• California offshore wind moves ahead
  American Journal of Transportation, May 21, 2025
• Trade and Logistics Industry Cluster Report
  Los Angeles County Economic Development Corporation LAEDC, March 2025

More International Articles

• U.S. Sen. Ted Cruz backs bill to speed permits for international bridges, ports of entry
  USA Today, May 26, 2025
• U.S. ambassador shuts down Trump’s Canada annexation talk
  EssaNews, May 23, 2025
• Russia’s sanctioned tanker group Sovcomflot plunges to $393 million loss
  Reuters, May 23, 2025
• Argentina’s Milei unveils bold plan to lure billions in undeclared dollars back home
  The Associated Press, May 22, 2025
• US trade panel’s vote paves way for stiff tariffs on many solar imports
  Reuters, May 20, 2025
• Panama Asks Trump to Clean Up Mess Left From Biden-Era Migration Surge
  Newsweek, May 15, 2025