Postal traffic to the US dropped more than 80% after the Trump administration ended the de minimis tariff exemption for low-cost imports, the United Nations postal agency said Saturday. The AP reports that 88 postal operators have told the UPU they’ve suspended some or all postal services to the US until a solution is implemented with regard to U.S.-bound parcels valued at $800 or less, the previous limit for imported goods to avoid customs charges.
President Trump on Friday signed an executive order exempting gold, tungsten and uranium from global tariffs, Bloomberg reported.
And on Thursday, Trump cemented and signed an executive order implementing the US’s pact with Japan. But despite this, many of Trump’s tariffs remain tied up in legal battles, after courts ruled most of them illegal.
Amid legal questions hanging over tariffs, Trump has also asked the Supreme Court for an immediate hearing in hopes of overturning an appeals court ruling that deemed most of his tariffs illegal.
His administration called for the high court to put the case on a highly expedited schedule, with arguments starting in early November, according to reported filings.
On Wednesday, Trump said the US may have to “unwind” existing trade deals, including with the European Union, Japan, and South Korea, if the Supreme Court doesn’t uphold the tariffs.
“If we don’t win that case, our country is going to suffer so greatly,” Trump told reporters before meeting with Polish President Karol Nawrocki. “These deals are all done. I guess we’d have to unwind them.”
A federal appeals court ruled that most of Trump’s global tariffs were illegal, reaffirming an earlier ruling by the Court of International Trade and saying he exceeded his authority in using emergency powers to impose them. The judges, however, allowed the tariffs to remain in place while the case moves through the appeals process.
That means the “reciprocal” tariffs Trump unveiled on dozens of US trade partners (which you can see in the graphic below) now face legal limbo.
Meanwhile, Trump said he will soon impose tariffs on semiconductor imports but will spare companies like Apple (AAPL), which have promised to increase US investments. Trump said Apple CEO Tim Cook “would be in pretty good shape” because of the company’s recent commitments.
Elsewhere, Trump has said he is not considering lowering tariffs on India, a week after the US doubled duties on its imports to 50% in response to India’s purchase of Russian oil.
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