Trump pursues new import taxes
- President Donald Trump’s trade team opened Section 301 hearings this week to build new tariffs after the Supreme Court struck down his broader February duties. - General Motors booked a roughly $500 million tariff refund, raised 2026 guidance, yet still expects U.S. tariffs to cut profits by $2.5 billion-$3.5 billion. - The new cases target forced labor and excess capacity across dozens of economies, with hearings starting April 28 and May 5. (ustr.gov)
The Trump administration has started new trade hearings to replace tariffs the Supreme Court struck down in February. (abcnews.com) The Office of the U.S. Trade Representative opened Section 301 hearings on April 28 and April 29 on whether 60 economies failed to block imports made with forced labor. USTR said those cases could support new duties. (ustr.gov) A second set of Section 301 cases covers structural excess manufacturing capacity in certain sectors. The Federal Register notice set public hearings for May 5, 2026, after USTR launched those investigations in March. (federalregister.gov) Trump moved to this route after the Supreme Court invalidated most of his sweeping tariffs and his replacement stopgap levies were set to expire in less than three months. The administration has been looking for a more durable legal basis to keep import taxes in place. (abcnews.com) (cbsnews.com) India said it would fight the new U.S. cases in Washington hearings over the next two weeks. Indian officials and industry groups from textiles, auto parts, plastics and solar argued that U.S. allegations on trade practices and labor enforcement should be dropped. (thehindubusinessline.com) Corporate America is already booking the fallout. General Motors said on April 28 that it recorded a roughly $500 million benefit from the Supreme Court decision and raised its full-year adjusted earnings outlook to $13.5 billion to $15.5 billion. (cnbc.com) (news.gm.com) GM also said tariffs are still expected to cut 2026 profit by $2.5 billion to $3.5 billion, even after the refund. The company reported first-quarter revenue of $43.6 billion and adjusted earnings per share of $3.70. (cnbc.com) The legal fight is not over. A federal trade court heard arguments this month over the legality of Trump’s 10% global tariff imposed after the Supreme Court ruling, opening another front in the dispute over how far a president can go without Congress. (politico.com) The next marker is the hearing calendar: forced-labor cases began on April 28, and excess-capacity cases begin on May 5. That schedule will shape whether Trump’s temporary import taxes turn into a longer trade regime. (ustr.gov) (federalregister.gov)
